We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work2-bedroom flat · IM3 2BD
Sold STCListed 205 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Accommodation Ground Floor Communal Entrance Hallway Apartment 5 Private Entrance Hallway Open Plan Lounge/Diner (approx. 28'3 max x 18'5) Kitchen (approx. 15'4 max x 11'7) Utility Room (approx.
10'6 x 9'3) Boiler Cupboard (approx. 6'0 x 4'8) Cloakroom W.C. (approx. 5'8 x 4'9) Bedroom 1 (approx. 26'6 max x 10'7) Wardrobe/Store (approx. 10'6 x 9'3) En-Suite (approx.
6'8 x 5'8) Bedroom 2 (approx. 21'3 max x 11'6) En-Suite (approx.
11'1 x 7'10) Outside To the front of the property there is a private terrace providing ample outdoor living space, enjoying views out to sea across Douglas Bay and over to Douglas Head.
Allocated parking space. Single Garage Fitted with an up and over garage door. Services All main services are connected. Electric central 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 £5,629.00 Per Annum, separated into £2,571.00 in July 2024 and £3,058.00 in February 2025.
Rates Apartment Isle of Man Government Treasury: £1,331.98 (2025/26). Onchan District Commissioners: £982.68 (2025/26). Total: £2,314.66 (2025/26).
Garage Isle of Man Government Treasury: £40.67 (2025/26). Onchan District Commissioners: £68.96 (2025/26). Total: £109.63 (2025/26).
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, bear right and continue down where apartment five can be found in the first block on the right hand side.
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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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 Apt. 5 Majestic Apartments, King Edward Road, Onchan, IM3 2BD
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