Albany Road, Douglas
Asking price: £499,000

An exciting investment opportunity has arisen to acquire this substantial block of three self-contained flats, superbly positioned in the heart of central Douglas. Just a short walk from the city centre, local amenities, and major transport links, the property enjoys an exceptionally convenient location that will appeal strongly to both tenants and investors alike. Originally converted in 2003, the building offers versatile accommodation across three well-proportioned flats, each with its own distinctive layout and character, together providing excellent rental income potential. While certain areas would benefit from refurbishment, this presents a valuable chance to upgrade and significantly enhance long-term returns.

The ground floor flat offers generous living space, beginning with a good-sized lounge leading through to a kitchen. The flat includes a bathroom and three well-proportioned bedrooms, one of which features an ensuite bathroom with scope for upgrading. Completing the accommodation is a private front garden, adding further appeal. This flat is currently occupied informally by a friend of the owner, with no formal lease in place, offering flexibility for future use.

The first floor flat is a bright and spacious, featuring a large lounge and a modern, well-fitted kitchen. It offers three bedrooms, including two excellent doubles, with the principal bedroom benefitting from an ensuite bathroom. Currently vacant, this flat presents an immediate opportunity for letting or further enhancement to maximise rental income.

On the second floor, the flat provides generous living accommodation with a spacious lounge and an attractive kitchen complete with a dining area. The bathroom is well appointed with both a bath and a separate shower. There are three bedrooms, two good-sized doubles and a third with its own ensuite shower room. This flat is currently rented at £750 per month on a rolling monthly tenancy, providing instant income for an incoming investor.

Externally, the property benefits from three dedicated parking spaces to the rear, a valuable asset in this central location. There is also an additional yard and a small outbuilding that would benefit from refurbishment but offers further potential for storage or improvement. Access to the first and second floor flats is via the rear of the building. With gas servicing throughout and several areas offering scope for upgrading, the property represents an exceptional opportunity to add value, increase yield, and secure a strong, long-term investment in a highly desirable location.