Castlemona Avenue, Douglas
Asking price: £495,000

Set in the very heart of Douglas, this fully licensed eight bedroom HMO with owners’ accommodation boasts an unbeatable location just a short walk from the Central Promenade, the town centre, and a wide range of local amenities. Its prime position makes it a rare and exceptional opportunity for investors seeking strong returns and long term growth.

The property is fully compliant with HMO regulations and currently produces an impressive annual income of £44,200, delivering a gross yield of 8.92%. All rooms are fully tenanted, ensuring immediate cash flow. With the current owners selling due to retirement, this is a unique chance to acquire a well-established and well-maintained investment property.

Accommodation is arranged over four floors, including owners’ quarters on the lower ground level with two ensuite bedrooms, a kitchen, lounge, and utility space. The upper floors feature a combination of ensuite and shared bathroom bedrooms, along with communal kitchens and utility areas. The roof was replaced seven years ago, and the property benefits from oil heating and a small yard accessed from the lower ground floor. Tenants are on weekly leases, with rents ranging from £90 per week for single rooms, £95 for doubles with shared bathrooms, and £120 for ensuite rooms.

This is a rare opportunity to secure a high-yielding, centrally located investment property in Douglas. With strong rental demand and potential for further improvement, 110 Castlemona Avenue offers both immediate income and excellent prospects for future growth.