£450,000
5 bed block of flats for saleVictoria Road, Isle Of Man, 4 IM2
5 beds
3 baths
- Freehold
Grays Estate Agents
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About this property
Freehold block of 3 self-contained apartments in central Douglas
Advanced renovation stage – second/final fix electrics & plumbing in place
Flat 1: 1-bed / Flats 2 & 3: 2-bed layouts with open-plan living
Strong rental demand – erv £43,200–£46,800 pa once complete
Indicative gross yield 8.5%–9.0% based on completion values
Excellent investment or resale opportunity with uplift potential
A rare opportunity to acquire a freehold block comprising three self-contained apartments in the heart of Douglas. The property is part-renovated and requires completion, presenting an excellent investment or resale opportunity once works are finalised.
Flat 1 (Ground Floor): 1-bedroom apartment with bathroom and open-plan kitchen/living/dining space.
Flat 2 (First Floor): 2-bedroom apartment with bathroom and open-plan kitchen/living/dining space.
Flat 3 (Second Floor): 2-bedroom apartment with bathroom and open-plan kitchen/living/dining space.
Communal stairwell providing access to all floors.
Renovation works are well-advanced, with much of the property brought to second/final fix stage including electrics and plumbing.
Rental Values (on completion)
1-bed: £1,000 – £1,100 pcm
2-beds: £1,300 – £1,400 pcm each
Gross annual income potential: £43,200 – £46,800
Indicative gross yield: 8.5% – 9.0% once complete
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