Initial price	£160,000
04/10/24	£157,000
Price Change	-1.88%

Prime Property Auctions presents a rare BRRR opportunity in Carlisle, a 5-bedroom mid-terrace house split into three flats. The property is located in a prime area, close to local amenities, schools, and public transport. The ground floor flat is currently tenanted, providing an annual income of £7,800. Planning has been approved for conversion of the middle and top floors into a 2-bedroom and studio apartment, respectively. Once fully renovated, the property could command a collective rental income of £21,000-£23,000 per annum, providing a 13% gross yield. The local area has seen strong demand, with recent sales of similar properties fetching £175,000, £185,000, and £190,000. The property requires full renovation, making it an excellent opportunity for shrewd builders, investors, and developers. With a guide price of £160,000, this property offers excellent capital growth potential and a rare project with remarkable BRRR potential.