Initial price	£160,000
04/10/24	£157,000
05/03/25	£150,000
01/04/25	£140,000
Price Change	-12.50%

Prime Property Auctions presents a rare BRRR opportunity in Carlisle, a 5-bedroom mid-terrace house split into three flats. The property, located in a prime area, has a guide price of £160,000 and has previously sold for up to £190,000. The ground floor flat is currently tenanted at £650 per month, providing an annual income of £7,800. Planning has been approved for conversion of the middle and top floors into two large double bedrooms, bathroom, kitchen, and living area, and a studio flat, respectively. Once fully renovated, the property could command a collective rental income of £21,000-£23,000 per annum, providing an excellent 13% gross yield. The local area has seen strong demand, with recent sales evidence showing that there is a high demand for flats in the area. The property requires full renovation, making it an attractive opportunity for shrewd builders, investors, and developers looking for a rare project with remarkable capital growth potential.