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Fairview Close, Richmond Avenue, Fairview, Dublin 3

Price on Application SALE AGREED
Commercial Site For Sale | 
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Overview

Property Description:

Fairview Close is located on the east side of Richmond Avenue, within approximately 400metres west of Fairview Village, 1 km west of Drumcondra, 1.1 km northwest of EastPoint Business Campus and approximately 1.95km north of Dublin City Centre.24 apartments for sale in a single lot
Current rental income of e221,700 with 8 vacant apartments
Located within close proximity of Drumcondra and Dublin City Centre
Accommodation comprises 3 one-bedroom apartments, 14 two-bedroom apartments and 7 three-bedroom apartments
Income could potentially increase to approximately e375,000 on the assumption the vacant units are re-let at market rents
Tenants not affected


DESCRIPTION

The sale comprises of 24 apartments, containing 3 one-bedroom apartments.14 two-bedroom apartments and 7 three-bedroom apartments. The apartments are finished to a good standard, each with a good sized balcony and one designated car parking space at basement level.

INVESTMENT

Sixteen of the apartments are let and are producing a current gross rental income of e221,700 per annum, averaging e1,115 pm. for the 2 bedroom apartments and e1,260 for the 3 bedroom apartments. Given its proximity to Drumcondra, IFSC and Dublin City Centre this is a strong letting location with significant potential for income growth.

Recent rents achieved in the vicinity average e1,500 for one-bedroom apartments, e1,750 for two-bedroom apartments & e1,950 for three-bedroom apartments. The apartments are occupied on standard residential tenancies with the exception of the 7 vacant apartments. Once fully let the potential rental income is approximately e375,000 per annum.

Daft Property Shortcode:

https://www.daft.ie/5876462

Date Entered/Renewed:

9/7/2019 (70 days ago)

Property Views:

196
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Map Legend:

Exact Location Match Exact location match

Address:

Fairview Close, Richmond Avenue

Distance to City Centre:

2.1 km (1.3 miles), 20 minute walk

Public transport routes that service Fairview:

  • Train: Dart
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