70 George St 5 Unit Apartment Building $931,367 CAD ($186,273 CAD/Unit) 7.52% Cap Rate Ryde PO33 2JF

Flats 1-5, 70 George Street offers the opportunity to acquire a fully let residential investment property in Ryde, the Isle of Wight's largest town by population. The property comprises a mid-terrace block arranged over four floors and includes five residential apartments together with two storage units accessed from St Peters Mews. The residential accommodation consists of four one-bedroom apartments and one studio apartment, providing a diversified residential income stream supported by established occupancy.
The property currently generates an annual overall income of £37,243.88 and is being offered with the benefit of a long leasehold interest comprising the remainder of a 950-year lease dating from 1865. The basement apartment benefits from a courtyard garden and gas central heating, while the remaining apartments are serviced by electric heating. The combination of multiple residential units and ancillary storage accommodation provides a mixed income profile within a single managed asset.
Positioned on George Street, the property is within walking distance of Ryde town centre and enjoys convenient access to the Island's retail, service, and transportation amenities. Ryde serves as a principal commercial and residential hub on the Isle of Wight, with nearby connections to the Hovercraft and FastCat passenger services providing links to Southsea and Portsmouth. The property's location near established shopping areas, local services, and regional transport infrastructure supports ongoing residential demand and accessibility for occupants.