***GREAT INVESTMENT OPPORTUNITY IN PRIME LOCATION***
Online Auction will take place on Thursday 29th September 2022 @ 3pm
KELLY BRADSHAW DALTON in conjunction with Leinster Property Auctions are delighted to present this Investment property including 6 self contained flats in a high demand location on St Patrick's Road, Drumcondra. This attractive mid terrace red brick property will provide an excellent investment opportunity with a strong rent roll.
The subject property is an investment property that was divided into 2 units. In 1991 the property was sub divided into 6 self contained flats:
4 x Studio Flats
2 x 1 Bedroom Flats
Each flat has its own meter and there is 3 phase power. There is a small yard to the rear also with access to a shared lane. To the front is a small tiled garden in keeping with the local facade of Drumcondra.
The property is vacant for over 2 years and affords the opportunity for full open market rent. Estimated rent for new refurbished studios would be €1200 per month and one bedroom apartments would be €1500 per month. Therefore the total rent roll here would be €93,600 after refurbishment. With an estimated €200,000 of costs to fully refurbish the 6 units, the property would offer a 12.1% yield.
Great Investment Opportunity
No Rental Caps