This property presents a compelling renovation project in Kirkhill, Inverness, known for its strong serviced accommodation potential. Priced competitively at £215,000, which is below the Home Report value of £230,000, this home represents a unique investment opportunity for those looking to unlock its value through refurbishment. With a strategic focus on upgrading this property from 'the worst house on the street' to 'the best,' there is considerable upside for both resale and rental income once improvements are made.
Situated on a tranquil residential street, the property boasts 4 bedrooms and is conveniently located just 8 miles from Inverness city centre. This area's vibrant market offers robust long-term rental prospects with potential monthly rents around £1,500. Additionally, there is significant opportunity for serviced accommodation given the area's appeal to tourists visiting nearby attractions such as Loch Ness and the North Coast 500 route. Projections suggest that with effective management, the property could yield approx. £50,000 annually in gross revenue based on an average daily rate of £213 at 65% occupancy.
Overall, this property not only offers immediate equity but also an exciting chance for investors or developers to enhance its value strategically while capitalizing on strong local demand.
