Summary - 38, COCKBURN PLACE, ELGIN IV30 4HY
2 bed 1 bath End of Terrace
Let property with garage and steady income — refurbishment potential for higher returns..
Freehold 2-bed end of terrace with garage and private front/back gardens
Current gross annual rental income £6,900 with long-term tenants in situ
Buyer’s Premium applies on sale — factor into total acquisition costs
Located in a very deprived area; classified as hard-pressed rented terraces
Compact footprint ~678 sq ft — suitable for rental yields, not expansion
Good mobile signal and fast broadband — attractive to tenants
Some areas need modernization; opportunity to increase value with refurbishment
Parking via private garage and concrete driveway
A straightforward two-bedroom end of terrace in Elgin offered with long-term tenants already in place — ideal for a hands-off buy-to-let addition. The property is freehold, includes private garage parking, front and rear garden space, and currently produces a gross annual income of £6,900. Its compact footprint (approx. 678 sq ft) suits investors seeking steady rental return rather than immediate family expansion.
The house presents a mix of tidy, liveable rooms and areas that would benefit from updating. External photos show a mid-century build with paved driveway, outdoor storage and low-maintenance planting; internal images indicate neutral décor and a working fireplace in the living room. The property will likely attract investor and developer interest because of its rental history and clear potential to increase value with targeted refurbishment.
Important considerations: the property sits in a very deprived local area and classification of “hard-pressed rented terraces,” which can affect future capital growth and tenant mix. A Buyer’s Premium will apply on purchase — factor this into acquisition costs. The current tenants have expressed an intention to remain, so vacant-possession work would require serving notice and possible re-letting delays.
Overall, this is a practical investment for someone building or diversifying a rental portfolio: predictable income now, scope to boost rents and value through modernization, but with socio-economic risks locally and extra purchase costs to include in your return calculations.
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