2-bedroom terraced house · ML5 4JG
Listing removedListed 58 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
3 Elgin Place is a spacious two bedroom mid terraced home offering an excellent opportunity for a purchaser looking to refurbish and modernise a property to their own specification.
The accommodation is well proportioned throughout and is complemented by generous private garden space to both the front and rear, together with residents’ off road parking nearby.
The property is entered via steps leading from the front garden into the reception hall, which provides access to the principal ground floor accommodation.
The lounge is particularly well proportioned, extending to approximately 18'1" in length, with windows providing natural light from both aspects and ample space for a range of freestanding furniture.
The kitchen is positioned separately to the rear and measures approximately 11'6" x 7'9".
While requiring upgrading, it provides a good-sized footprint for the installation of a modern fitted kitchen and benefits from direct access to the rear garden.
On the first floor, the accommodation continues with two well-sized double bedrooms. Bedroom one extends to approximately 15'6" in length, while the second bedroom measures approximately 12'3" x 9'3".
A bathroom and additional storage complete the upper level.
The property requires a programme of refurbishment and upgrading, presenting clear scope for the incoming owner to improve the accommodation and add value.
The existing proportions and straightforward two-storey layout provide a practical basis from which to create a comfortable modern home.
Externally, one of the property's notable features is the amount of outdoor space available.
There are private gardens to both the front and rear, predominantly laid to lawn and offering considerable scope for landscaping, seating or other improvements.
Residents’ off road parking is also available within the development.
Elgin Place is situated within an established residential area of Coatbridge, convenient for everyday amenities, schooling and public transport.
Whifflet railway station is approximately half a mile from the postcode, providing a useful option for commuters, while a range of supermarkets, shops and other facilities can be found throughout Coatbridge.
The location is also well placed for road travel across the Central Belt.
The A725 provides connections towards the M8 and M73 motorway network, making Glasgow, surrounding Lanarkshire towns and routes east towards Edinburgh readily accessible by car.
Overall, 3 Elgin Place represents an attractive proposition for first-time buyers, investors or purchasers seeking a refurbishment project, combining generous accommodation and substantial garden space with a well-connected Coatbridge location
Value & comps
Land Registry doesn’t cover Scotland or Northern Ireland, so previous sales may not be on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About 3, Elgin Place, Coatbridge
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