Floorplans (
Map6 bedroom block of apartments for sale
Key information
Features and description
- An excellent opportunity for investors to acquire the freehold of a converted Victorian property creating four flats that has recently undergone a £50k investment
- Investment opportunity with growth potential
- Four apartments with potential to create a fifth apartment with private access
- Undergone improvement works recently internally and externally - scheme of works available to review
- Central Ramsey location within easy reach of all local amenities
- Property would benefit from internal modernisation
- Three apartments let on historic tenancies
- Currently yielding £18,300, an approximate gross yield of 6.2%
- Potential yield if modernised and fifth unit created of approximately £48,000
This centrally-located property in Ramsey presents an excellent investment opportunity with strong growth potential. Currently arranged as four apartments, with scope to create a fifth unit with its own private access, it has already undergone recent improvement works both internally and externally, with a detailed scheme of works available for review.
Three of the apartments are let on historic tenancies, generating an annual income of £18,300 and providing an approximate gross yield of 6.2%. With modernisation and the potential addition of a fifth unit, the property offers the potential to achieve a significantly higher yield of around £48,000 per annum. Perfectly positioned within easy reach of local amenities, it represents a rare chance to secure a high-yielding residential investment in the heart of Ramsey.
Recent improvement works have been carried out both internally and externally, ensuring the property is structurally sound, while a full scheme of works is available for review. The apartments are currently let or available as follows: Flat 1 is a vacant two-bedroom duplex requiring improvement works, with potential to convert into two separate flats; Flat 2 is a one-bedroom unit let at £600 per month; Flat 3 is a one-bedroom unit let at £425 per month; and Flat 4 is a one-bedroom unit let at £500 per month.
The existing three tenanted units generate an annual rental income of £18,300, providing an approximate gross yield of 6.2%. With refurbishment of Flat 1 and the creation of a fifth unit, the property could achieve a projected rental income of around £48,000 per annum, representing a significant uplift in yield and a compelling return on investment.
The property benefits from a central location within easy walking distance of Ramsey’s town centre, shops, cafés, and other local amenities. This prime position ensures strong and sustained tenant demand, making it a reliable income-producing asset. Its flexibility and potential for enhancement make it suitable for a range of investment strategies, including refurbishment, value-add development, or long-term portfolio growth.
Flat 1 - Vacant 2-bed duplex flat that requires improvement works. Potential to convert to two flats.
Flat 2 - 1 bed let at £600pcm
Flat 3 - 1 bed let at £425pcm
Flat 4 - 1 bed let at £500pcm
About this agent
