Spencer Avenue, Flat 5 (first floor), Coventry, West Midlands, CV5 6NP

Attention Investors – Potential 16% Gross Yield | Ideal Airbnb Opportunity

Suttons Estate Agents are pleased to present this first floor one-bedroom apartment, ideally situated in the sought-after area of Earlsdon, adjacent to Spencer Park. The property benefits from excellent transport links, with Coventry Train Station nearby offering direct routes to London Euston, Birmingham International, and Birmingham New Street. It is also within a short walking distance of Central Six Retail Park, Aldi, and Coventry University.

This property presents an outstanding investment opportunity, particularly for short-term letting. The current vendor owns a similar-sized apartment within the same building, which has achieved a gross monthly income of £900–£1,200 through Airbnb and other online booking platforms.

Due to the compact size of the property (approximately 18 square metres / 193 square feet), a cash purchase is preferred. However, buyers requiring finance are encouraged to contact our office, as we can refer you to a specialist mortgage broker with access to suitable lenders.

The accommodation briefly opens into a kitchen/lounge area fitted with an oven, electric hob, and space for appliances. There is a tiled bathroom with an electric shower, and a bedroom suitable for a three-quarter size bed.

Externally, the property benefits from a communal garden, ideal for relaxing or alfresco dining.

 

Good to know:
Lease to be extended to 899 years.
Ground rent £40 pa
The service charge is calculated at % of communal cleaning & electric and other costs such as repairs to the building ect. See below the costs:
" Internal Common Parts" - Communal Electricity & Cleaning . Flat 5 = 10.35% 

"Common Parts" - Insurance, Garden / Paths, Maintenance & Management Fee. Flat 5 = 10.25%

The above equates to the total yearly charge as below (excluding Ground Rent) 

2024 - £439.50

2025 - £353.56 

The vendor has a similar size property within the same building and has been earning gross £900 - £1200 per month using Airbnb and other online booking services.

Internal area: 18 Square meters / 193 Square foot – please make your lender aware of this.

Council Tax Band A - £1609 pa.
EPC Rating – D.
Electric heating only.
Each flat has its own fuse box and electricity meter.
No lift, stairs only.

Potential gross yield of 16% (if achieving £1200pcm) Or  Gross yield of 12% (if achieving £900pcm)

Roof type: Clay tiles.

Mobile signal/coverage: Good.

Construction materials used: Brick and block.

Water source: Direct mains water.

Electricity source: National Grid.

Sewerage arrangements: Standard UK domestic.

Heating Supply: Central heating (electric).