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Our Summary
- Potential for rent growth
- Refurbishment works required
- Currently managed by the owner, the block brings in £32,040 annually, with considerable potential to enhance returns through refurbishment and rent increases
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Description
This freehold property in the heart of Ramsey offers a unique opportunity to acquire a four-apartment and two-studio complex with stunning views of the bay. Currently generating £32,040 in annual income from five let units, the property has significant potential for refurbishment and rent increases, allowing an incoming purchaser to add value. The property's enviable location, close to shops, restaurants, and amenities, makes it attractive to both tenants and investors.
With one unit vacant and awaiting refurbishment, the property presents a blank canvas for the new owner to put their own stamp on and enhance returns. The neighboring Silverburn apartment block is also available from the same vendor, offering the potential to expand a portfolio with a larger investment.