House For Sale £349,950
Albany Street, Douglas, Isle Of Man

ATTENTION INVESTORS - Excellent investment opportunity for a cash buyer to acquire a traditional central Douglas property comprising of 3 separate one bedroomed apartments set over 3 levels with the further benefit of 2 single garages not yet on the rental market. The property is let to a headline tenant and contracted until March 2026 with a yield of 4.1% to the current owner. Combined rents paid to the headline tenant from the sub-tenants currently yield 7.14%

Summary - ATTENTION INVESTORS - Excellent investment opportunity for a cash buyer to acquire a traditional central Douglas property comprising of 3 separate one bedroomed apartments set over 3 levels with the further benefit of 2 single garages not yet on the rental market. The property is let to a headline tenant and contracted until March 2026 with a yield of 4.1% to the current owner. Combined rents paid to the headline tenant from the sub-tenants currently yield 7.14%

Features - Excellent Investment Opportunity
Initial Yield Until March 2026 is 4.11%
Post March 2026 Yield Potential Approx. 7.14% plus garage income
3 One Bedroom Apartments
2 Single Garages
Cash Buyers Only
No Onward Chain

Details - Excellent investment opportunity for a cash buyer to acquire a traditional central Douglas property comprising of 3 separate one bedroomed apartments set over 3 levels with the further benefit of 2 single garages.

The property is let by the current owners as a whole to a headline tenant at £1200 pcm. This arrangement is a 3 year contract which is valid until March 2026. This is a gross yield of 4.11%

The headline tenant achieves rent from the 3 sub-tenants as follows -

Ground Floor Apartment - 1 Bed Room. Rent £695 pcm
First Floor Apartment - 1 Bedroom. Rent £695 pcm
Attic Apartment - 1 Bedroom. Rent £695 pcm

This provides a current gross yield to the headline tenant of 7.14% until March 2026 at which point the arrangement with the headline tenant can be renewed, or the owner can rent direct to each individual tenant to achieve the higher yield figure.

Directions - From the TT Grandstand travel south through the first set of traffic lights at St Ninians Cross. Continue through the next lights at the foot of Bray Hill. Take the 1st left into Brunswick Road. Continue for 300 metres. Turn left onto Albany Road then take the first right onto Albany Street. Number 17 is on the corner on the right side and is marked by our 'Buy Me' board.

Further Information - To make further enquiries, to make an appointment to view or to submit an offer to purchase this property, contact Bruce Cobburn [use Contact Agent Button] or [use Contact Agent Button].