1-bedroom flat · IM3 2BE
For saleListed 55 days
Opportunity summary
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About
Excellent lower ground floor purpose build 1 bedroom apartment within the prestigious, gated Majestic Apartments estate.
Spectacular sea views over Douglas Bay from the South facing open plan living/dining kitchen/terrace. Rare additional rear private courtyard. One allocated parking space.
Garage available by separate negotiation. Offered with no onward chain. Accommodation Ground Floor Communal Entrance Hallway Secure fob/key coded entrance. Mailboxes. Lift access to all floors.
Lower Ground Floor Apartment 61: Recently decorated in a neutral colour throughout. Private Entrance Hallway (approx. 12'9 x 5'3 & 11'11 x 7'5) Security video intercom entrance phone.
Oak effect laminate flooring. Ceiling downlights. Plug sockets. Electric radiator. Storage Cupboard (approx. 5'2 x 2'1) Plumbed for a washing machine. Shelf and hanging space.
Utility Cupboard (approx. 3'3 x 2'6) Houses the Megaflo hot water tank. Open Plan Living/Dining/Kitchen Living Area (approx. 16'2 x 11'6) & Dining Area (approx.
8'3 x 6'0) Set of uPVC double glazed sliding patio doors providing access onto the front terrace. Oak effect laminate flooring. Multiple plug sockets.
TV and satellite points and pre-wired for a surround sound system. Ceiling downlights. Electric radiator.
Front Terrace Access from the living area onto the South facing terrace, attracting the sun throughout the day. Kitchen (approx.
10'2 x 8'4) Fully fitted with a contemporary Linnea Quattro kitchen comprising of base, wall and drawer units with a breakfast bar.
Work surfaces incorporate a stainless steel sink with a mixer tap over and drainer.
Integrated appliances include: Siemens fridge/freezer; Beko dishwasher; Siemens microwave, electric oven with a four ring hob and extractor fan above. Under-counter lighting. Oak laminate flooring.
Bedroom (approx. 14'10 x 10'10) Set of uPVC double glazed sliding doors providing access out to the rear patio area. Electric sockets. Ceiling lights. Pre-wired for integrated surround sound system.
Carpeted flooring. Large Private Rear Courtyard Access from the bedroom leading directly onto a rare private outdoor courtyard area. Jack & Jill Bathroom (approx.
7'4 x 6'5) Dual entry bathroom with access from both the bedroom (en-suite) and separately from the hallway.
Fitted with a three piece Villeroy and Boch suite comprising of a panel bath tub with a shower attachment over and glass splash screen, wall mounted wash hand basin and W.C.
Frosted uPVC double glazed window. Heated de-mister mirror. Chrome heated ladder towel rail. Extractor fan. Ceiling downlights. Tiled flooring and part-tiled walls.
Outside To the front of the property, accessed from the open plan living space is a South facing terrace with sea views and low walls providing the sun throughout the day.
To the rear, accessed from the bedroom is a private courtyard. Allocated parking space. Several communal visitor parking spaces within the gated Majestic Estate.
Communal Majestic Estate Gardens Immaculately maintained communal gardens with walkways, seating, a waterfall, stream/bridge, pavilion, ponds and sea views. Convenient access for Douglas and Onchan.
Single Garage Option to be included in the sale, subject to separate negotiation. Fitted with an electric garage door to the front aspect. Lighting and power connected.
Services All main services are connected. Electric heating. UPVC double glazed throughout. Tenure Leasehold. Remainder of a 999 year lease.
Management Company There is an active management company in place with the current charge set at £2,814.00 Per Annum for the financial year ending 31st January 2027, which includes an annual £10.00 ground rent charge.
Please note that there was a £35.00 discount applied due to the previous year's budget underspend.
Rates Apartment (if paid before June to include the discount) Isle of Man Government Treasury: £568.76 Onchan District Commissioners: £438.72 Total: £1,007.48 Garage (if paid before June to include the discount) Isle of Man Government Treasury: £41.70 Onchan District Commissioners: £70.20 Total: £111.90 Directions Travelling along Douglas Promenade in the direction of Onchan, proceed past Port Jack and onto King Edward Road.
Continue past the entrances to Harbour Road and Howe Road and take the next right into the Majestic Apartments development, and bear left where Apartment 61 can be found in the second block on the right hand side, with a fountain located in front of the block entrance.
Value & comps
No previous sales 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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About Apt. 61 Majestic Apartments,King Edward Road, Onchan
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