24th July 2020
Tight budget? Check out these five auction properties under £100k
The stamp duty holiday has given property buyers a boost but if a tight budget is still a concern, then SDL Auctions Bigwood can find you an investment in the West Midlands for less than £100k – and even has some under £50,000.
Whether you’re looking for a first step into the buy-to-let market or want to add to your portfolio, the UK’s most successful live-streamed auctioneer has a range of budget-friendly properties for sale in its national property auction on Thursday 30th July, with guide prices as low as £36,000+.
Check out these five investment properties which all fall under the £100,000 mark:
Flat 6, 78 Persehouse Street in Walsall
This would make the ideal first foray into property investment, with an attractive guide price of £36,000+ and a tenant already in place paying an annual rental income of £4,800.
The self-contained Flat 6 has been refurbished and is on the second floor of a converted semi-detached property set back from the road. It comprises a lounge/kitchenette, bedroom and shower room.
Neal Hume, valuer at SDL Auctions Bigwood said: “If you’re considering getting into buy-to-let, or are looking for a high-yield addition to your rental portfolio, this flat could be the buy for you. It’s already tenanted so you can hit the ground running and start earning an income from the day the sale completes.”
142 Merridale Street West in Wolverhampton
Happy renters stay put if they can, making life easier for the landlord, and 142 Merridale Street West in Wolverhampton has been let to the same tenant for the past 10 years.
Situated in Pennfields, close to shops and within walking distance of Wolverhampton city centre, the period terraced property has two reception rooms, a kitchen and bathroom on the ground floor, with two bedrooms upstairs. It produces £4,800 per year and the guide price is £70,000+.
184 Brickhouse Lane in West Bromwich
This is another investment property with tenants keen to stay put if possible. The semi-detached 184 Brickhouse Lane is currently rented out at £600 per calendar month and has a lounge, kitchen diner, three bedrooms and a bathroom, with gardens front and rear. It is within a half-mile walk of the Metro and the guide price is £78,000+.
Flat 19, Yenton Court, 742 Chester Road in Erdington
Not all the investment properties being sold in the auction are tenanted; some are vacant and ripe for refurbishment, allowing the new owners to increase the value before letting to tenants.
Flat 19 in Yenton Court is a good-sized second-floor flat requiring upgrading, comprising an entrance hall, lounge, dining room, kitchen, two double bedrooms and a bathroom. The dining room has the potential to be used as an occasional third bedroom. It is well located at the junction of Wydle Green and the Chester Road, with easy access to the motorway network and the cross-city train line. The guide price is £45,000+.
48 Spring Street in Stourbridge
Further west in Stourbridge, 48 Spring Street is a terraced property which would benefit from modernisation, enabling it to produce a potential rental income of £600 per calendar month. With an attractive guide price of £50,000+, the property has a hallway, lounge, kitchen, lobby and shower room on the ground floor, with two bedrooms upstairs and a rear garden. It is less than a mile from Lye Train Station and within 100 metres of Stevens Park.
Neal added: “These are just a few of the attractively-priced lots in the West Midlands coming up for sale in our July national property auction. We have properties to suit all budgets, and for all types of buyer, too.”
You can see all of the properties for sale in the auction on Thursday 30th July in the latest catalogue from SDL Auctions, whose live-streamed auctions are reaching huge audiences and have seen the company sell more than 420 lots and raise £55 million for sellers since lockdown began. The auction will be broadcast from the company’s head office auction studio and bids can be placed by telephone, by proxy or over the internet.
To find out more about any of the properties, or to register to bid, please click here.