£ 750,000
Hillcrest, Fairfield Terrace Douglas IM1 1BE, Douglas,
IM1 1BE
About this property
Click Here To View Print Friendly PDF
Directions: Travelling along Peel Road into Douglas keep left on to Belmont Terrace than continue through the first set of lights and then turn left at the next set on to Upper Church Street, continue up the road and take the 2nd turning on the right onto Tynwald Street where the property can be found at the end of the street on the left hand side opposite Bedco.
Summary: Superb Investment Opportunity Offering a High Yield Return Fully Licensed Terraced HMO (House in Multiple Occupation)
What is a HMO
HMO is where three or more unrelated persons occupy a house, where they pay rent for their own bedroom and share a kitchen, lounge and/or a bathroom. No Lease or contract is required.
The property is situated in the heart of Douglas and is presented in immaculate condition throughout. The business has been run as a successful HMO for over 20 years by the current owners who have long term occupiers and have always remained full without the need for advertisement.
The Property Comprises:-
2 Communal Lounges
2 Lovely Fully Fitted Communal kitchens
Laundry Room
17 bedrooms (Which are currently all rented)
Most Bedrooms have access to En-suite Shower/Bath facilities, there is also a Shower room with 2 cubicles
Current Rental Income per week is £1797 The property also benefits from a large self contained flat that could provide an additional Income or provide live in accommodation.
Rateable Value: £TBA
Rates Payable: £TBA
Inclusions : TBA
School District: HENRY BLOOM NOBLE / BHS
Viewings: Strictly by appointment with Property Wise Limited tel: 66 28 20
Offers: Strictly through the Agent, Property Wise Limited tel: 66 28 20
Disclaimer: Whilst all particulars are believed to be correct, neither Property Wise Limited, or their clients guarantee their accuracy nor are they intended to form part of any contract. Floorplans are only for illustrative purposes only, decorative finishes, fixtures, fittings and furnishings do not represent the current state of the property. Measurements are approximate and not to scale.
