9 Drumcondra Road Lower ***Pre ’63 Investment Opportunity***, Drumcondra, Dublin 9
9 Drumcondra Road Lower ***Pre ’63 Investment Opportunity***, Drumcondra, Dublin 9
Price
€850,000
Type
Commercial
Status
For Sale
Size
178 sq.m.
BER
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Description
***PRE ’63 INVESTMENT OPPORTUNITY / PRIME LOCATION / 8.75% YIELD / SOLD WITH VACANT POSSESSION***
KELLY BRADSHAW DALTON are delighted to present to the open market, 9 Drumcondra Road Lower, Dublin 9. This is an exceptional Pre ’63 investment property.
This substantial two storey over garden level property with an impressive rear garden offers great potential to the astute investor. No.9 provides investors an opportunity to acquire 4 units (4 x 2 bedroom units) in a significant building in a prime central location, with parking available for 2 cars. This property is being sold with vacant possession.
The property is currently rented out for ‘1,550 per unit generating an annual rent of ‘74,400 p.a. At the guide price this would give you a yield of 8.75%.
The property could benefit from more robust refurbishment and reconfiguration in order to bring these 4 units to market standards. We have calculated that the open market rental value of the refurbished property could be ‘105,600 (‘2,200 per 2 bedroom). Therefore, our AMV of ‘850,000 allows considerable room for refurbishment.
The BER for each apartment is coming in at an F or a G so cleverly thought out energy efficient upgrades could garner a B rating thereby qualifying for substantial changes to the property.
Drumcondra Road Lower is excellently located, with a wealth of amenities of Drumcondra Village on its doorstep and within walking distance of the City Centre. The convenience of the location of this property cannot be overstated. Some of Dublin’s most prestigious educational institutions are within walking distance, including St Patricks College of Education, Mater Dei Institute of Education and All Hallows College. Also, only a short distance away are the IFSC and East Point Business Park.
Drumcondra Train Station is only two minutes away and there are numerous bus routes serving the area. Also within close proximity are shops, cafes, restaurants, churches, a host of sporting & recreational facilities, the M1 & M50 Motorways and Dublin Airport. This is a fantastic opportunity for any purchaser to acquire an eight bedroom residence in a superbly located and convenient location.
Features
Pre ’63 INVESTMENT PROPERTY
SUPERB, PROMINENT AND PRIME LOCATION
8.75% YIELD
VACANT POSSESSION
FIRE SYSTEM IN PLACE
2 PARKING SPACES
Accommodation
Rooms
Garden Level – 45.0sq m
2 Double Bedrooms, Storage Room, Living/Kitchen, Bathroom
Ground Floor – 51.0sq m
2 Double Bedrooms, Storage Room, Living/Kitchen, Bathroom
Second Floor – 42.0sq m
2 Double Bedrooms, Living/Kitchen, Bathroom
Third Floor –
2 Double Bedrooms, Living/Kitchen, Bathroom