House of multiple occupation for sale

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House of multiple occupation for sale

110 Castlemona Avenue, Douglas
£495,000

Our Summary

  • With strong rental demand and potential for further improvement, 110 Castlemona Avenue offers both immediate income and excellent prospects for future growth

Description

This fully licensed eight-bedroom HMO with owners' accommodation is situated in the heart of Douglas, within walking distance to the Central Promenade, town centre, and local amenities. The property is fully compliant with HMO regulations and generates an impressive annual income of £44,200, yielding 8.92%. All rooms are currently tenanted, ensuring immediate cash flow. The property features four floors, including owners' quarters with two ensuite bedrooms, kitchen, lounge, and utility space, as well as communal kitchens and utility areas for the tenants. With a replaced roof and oil heating, this is a rare opportunity to acquire a well-established and well-maintained investment property in a prime location, offering both immediate income and potential for future growth.