Empress Drive, Douglas

FOR SALE – INVESTMENT 2 Empress Drive, Douglas – £550,000 (No VAT) BLOCK OF 4 FLATS – PART TENANTED – POTENTIAL INCOME CIRCA : £51,600 PA The Freehold Interest is to be purchased of this block of four flats and one commercial unit. The Freeholder also owns the four residential apartments. FLATS & COMMERCIAL UNIT HAVE INDIVIDUAL REGISTERED TITLES ON LONG LEASEHOLDS – MANAGEMENT COMPANY ALREADY SET UP. This provides flexibility for an incoming owner to hold as an Investment, or sell the flats off on an individual basis. The Long Leasehold for Lower Ground Floor Commercial Unit only has been sold.Large corner property with rear annex extension in fabulous location just off Douglas Promenade.Comprising of four large flats (each flat runs from front to back of property).Flats 1 and 2 are x 2 beds. Flats 3 & 4 are 2/3 beds. All four flats have a full bathrooms and additional separate WC (Flat 4 has two separate WCs).The property is in need of some remedial works but provides a great opportunity for increasing rental income.Flats 2 and 3 are Tenanted. Flat 1 & 4 are Vacant. Current rental income: £17,100 pa.GREAT RENTAL GROWTH OPPORTUNITY – POTENTIAL FOR A HIGH YIELD RETURN.

ACCOMMODATION

Ground Floor;
Steps up to communal entrance
Meter cupboard and fire system

Apartment 1 – GIA – approx. 926 sq ft / 86 sqm
Vacant
Lounge, bedroom 1, kitchen, WC, bathroom, bedroom 2, separate WC
1st Floor;

Apartment 2 – GIA – approx. 1,002 sq ft / 93 sqm
Occupied
Open plan lounge/dining room, kitchen, WC bathroom, bedroom 1, bedroom 2
2nd Floor;

Apartment 3 – GIA – approx. 1,002 sq ft / 93 sqm
Occupied:
Lounge, kitchen, bedroom 1, WC, bathroom, bedroom 2, bedroom 3/office
3rd Floor;

Apartment 4 – GIA – approx. 1,002 sq ft / 93 sqm
Vacant
Lounge, kitchen, bedroom 1, bathroom, WC, bedroom 2, bedroom 3/office, WC