Coventry - Development Opportunity 3 x 2 Bedroom Houses - Click for more info

Description

If you want to see more deals like this, then please visit the Property Investor website or download the 'Property Investor' app by visiting:

Apple Devices : Search for Property Investor in iOS app store
Android Devices : Search for Property Investor in Googleplay app store

If you are an agent/sourcer and have properties you would like to sell on the Property Investor app work with us get in touch by calling : 01902 773940

Development Opportunity

3 x 2 Bedroom Houses

Parkgate Road, Coventry, CV6 4GD

Purchase Price = £148,000

Finder’s Fee = £6,000 + Vat

Potential Profit After Built = £200,000 +

For a limited time only, we have managed to secure a development opportunity near Coventry City Centre. At present, the house and site is derelict, therefore it would require either a cash purchase or bridging finance. The owner is after a quick sale, therefore would also require someone who can complete within 56 days.

The property currently has planning permission in place to extend into the existing building and convert into a 6 bedroom, 6 Ensuite HMO.

However, having visited the site, the site has much better opportunities which include :

Demolish the building and build 3 x 2 bedroom houses (as a safe option)
Potential to fit 4 houses and fits within the street scene - directly over the road, 4 terraced houses are sat within approximately the same size plot
From our research, other 2 bedroom properties sell for approximately £170,000 - £180,000. A new build may achieve a slight premium and therefore envisage a new 2 bedroom terraced to worth within the region of £200,000

Based on the following :

3 x 2 Bedroom Houses = GDV = £600,000
4 x 2 Bedroom Houses = GDV = £800,000
The property is conveniently situated in a very sought after area with great transport connections, local shops and all local amenities the city has to offer.

If you want to see more deals like this, then please visit the Property Investor website or download the 'Property Investor' app by visiting:

Apple Devices : Search for Property Investor in iOS app store
Android Devices : Search for Property Investor in Googleplay app store

If you are an agent/sourcer and have properties you would like to sell on the Property Investor app work with us get in touch by calling : 01902 773940

Ad ID: 1409269567