Studio flat · IM3 1HF
For saleListed 51 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
A unique opportunity has arisen to acquire this attractive block of three leasehold apartments, ideally situated on Royal Avenue West, within easy walking distance of the promenade and a wide range of local amenities.
The property also benefits from partial sea views.The building comprises three well-proportioned apartments, all of which are currently let, providing an excellent opportunity for an investor seeking an established rental income.
The ground floor comprises a spacious one-bedroom apartment, while the first and second floors each provide a good-sized two bedroom apartment.Externally, the property benefits from a private rear yard with gated access onto the rear lane, together with a rear fire escape.
All three apartments are serviced by gas.The property currently generates an annual rental income of £27,480, representing an attractive gross return of 7.63%.An excellent opportunity to acquire a fully tenanted block of three apartments in a convenient and popular location, with immediate rental income and scope for long-term investment.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisors before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
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.
Area
Agent & docs
FAQ
About 63 Royal Avenue West, Onchan
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