PSRA Licence No: 001411
165 Drumcondra Road Lower, Drumcondra, Dublin 9
Call us today on: 01 804 0500
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48B Botanic Avenue **PRE '63 INVESTMENT**, Drumcondra, Dublin 9

Sold

Investment Property 256 m² / 2756 ft² EXEMPT


Description

**Pre '63 Investment Opportunity in Prime Location**

Kelly Bradshaw Dalton in conjunction with Leinster Property Auctions are delighted to present to the Open Market, 48B Botanic Avenue, Drumcondra, Dublin 9. This is an exceptional Detached Pre '63 Investment Property with rear access to a gated Car Park.

The subject property is situated in the heart of Drumcondra Village . Due to the superb location, this property provides investors a rare opportunity to secure a significant building in a prime central location. Currently sub-divided into 12 units with parking available for a configuration of up to c. 7 cars.

The subject property has a pre-63 declaration for 7 units but has been in the current condition prior to 1990 when the current owners purchased the property. In our opinion the property would lend itself to 9 self contained units and the would include 3 double bedroom studios and 6 x 1 bedroom apartments (subject to planning permission).

The refurbishment of this requires and complete upgrade and our calculations are based on the following using the residual method of calculation. We calculated that the open market rental value is €150,600 with an 8% yield values the property at €1,882,500. Conclusion, it is the professional opinion of the selling agent the location of this property justifies a yield of 8% as a finished product. This allows a refurbishment budget of €532,500.

Now to put a different spin, this subject property could operate as a communal living space dwelling. This would allow you to carve 10 living bedroom suites and a separate care taker 1 bedroom apartment. Due to the fantastic location demand for this short term living accommodation would produce €70/€100 a night producing an income of €254,000 per annum.

The location of this property cannot be overstated; Facing on to Griffith Park and situated in the heart of Drumcondra Village. This address is one of the most sought after in Dublin and is located on the primary bus route to Dublin Airport.

For Sale by Online Auction unless sold prior.

To view this substantial investment property contact Lisa Brown on 018040500/0872596112.

Features

1)Pre '63 INVESTMENT PROPERTY
2)SUPERB, PROMINENT AND PRIME LOCATION
3)DETACHED PROPERTY
4)SECURE PARKING FOR CONFIGURATION OF UP TO C. 7 CARS
5)FURTHER DEVELOPMENT OPPORTUNITY (SUBJECT TO PLANNING PERMISSION)

BER Details

BER: Exempt

Accommodation

A Pre '63 Investment Property that is divided into 12 individual units.

Directions

Driving from the city centre towards Dublin Airport, take a left turn at Fagan's on to Botanic Avenue. No 48B Botanic Avenue is located c.100 meters up on the left hand side.

Room Details

Flat 1 - m x m
A single studio unit

Flat 2 - m x m
A single studio unit

Flat 3 - m x m
A single studio unit.

Flat 4 - m x m
A single studio unit.

Flat 5 - m x m
A single studio unit.

Flat 6 - m x m
A single studio unit.

Flat 7 - m x m
A single studio unit.

Flat 8 - m x m
A large double studio unit.

Flat 9 - m x m
A large double studio unit.

Flat 10 - m x m
A large double studio unit.

Flat 11 - m x m
A large double studio unit.

Flat 12 - m x m
A one bedroom flat.