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3 bedroom flat for sale
Flat 1, Post Office Building, Main Street, Tobermory, Isle of Mull, PA75 6NT
£195,000
Flat 1, Post Office Building, Main Street, Tobermory, Isle of Mull, PA75 6NT
£195,000
Our Summary
- We are excited to bring to the market this excellent residential investment opportunity on the Isle of Mull *** Home Report £240, 000 ******55 Main Street, Tobermory, Isle Of Mull, PA75 6NT previously sold for £244,625, Penmore Cottage, Albert Street, Tobermory, Isle Of Mull, PA75 6PJ previously sold for £279,536 in 2024 ***Excellent BRRR opportunity, has the potential to be turned into a Serviced Accommodation and massive rental income upside
- We are excited to bring to the market this excellent residential investment opportunity on the Isle of Mull *** Home Report: £240,000, Guide Price 205,000 *** Property comprises: 3 bedrooms, spacious Living room, bathroom, kitchen, sea views and ample storage space *** Home Report : £240,000 *** Hugely discounted price to ensure an auction sale
- ***55 Main Street, Tobermory, Isle Of Mull, PA75 6NT previously sold for £244,625, Penmore Cottage, Albert Street, Tobermory, Isle Of Mull, PA75 6PJ previously sold for £279,536 in 2024 *** Property offers fantastic capital growth potential
- Excellent BRRR opportunity has the potential to be turned into a Serviced Accommodation and massive rental income upside
- This property is offered at a fantastic price to ensure an Auction sale
- The property will feature in our upcoming timed online auction
- To participate in the live auction, you must have a bidding account created
Description
This is an exceptional residential investment opportunity on the Isle of Mull, Scotland. The property, located on Main Street in Tobermory, is a 3-bedroom flat with a spacious living room, bathroom, kitchen, and sea views. The property has previously been used as a holiday let, generating returns of £18,000-£20,000 per annum at 50% occupancy. With a guide price of £205,000, it offers a huge discount and is expected to generate an incredible gross yield if secured at this price. The property has the potential to be turned into a serviced accommodation, with local properties achieving £120-£140 per night, and could generate £30,240-£35,280 per annum at 70% occupancy. The property is in walk-in condition and is located on the seafront, with local amenities and public transport easily accessible. This is an excellent BRRR opportunity for shrewd investors looking for a massively discounted flat in a stunning location.