For sale by Kelly Bradshaw Dalton via the iamsold Bidding Platform
GREAT INVESTMENT IN PRIME LOCATION
We are delighted to present to the market, 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 was a pre '63 investment 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.
Features
Great Pre '63 Investment Opportunity
No Rental Caps
Rear Access
Prime Location
Separate Meters
BER Details:
FLAT 1: BER G / BER No. 115388464
FLAT 2: BER G / BER No. 115388829
FLAT 3: BER G / BER No. 115389272
FLAT 4: BER G / BER No. 115389322
FLAT 5: BER E1 / BER No. 115389421
FLAT 6: BER G / BER No. 115389652
TO VIEW OR MAKE A BID Contact Kelly Bradshaw Dalton or iamsold, www.aimsold.ie
*Please note all properties are subject to a starting bids price and an undisclosed reserve. Both the starting bid and reserve price may be subject to change. Terms and conditions apply to the auction, which is powered by IAM Sold Property Auctions.
This property is offered for sale by unconditional auction. The successful bidder is required to pay a 10% deposit and contracts are signed immediately on acceptance of a bid. Please note this property is subject to an undisclosed reserve price. Terms and conditions apply to this sale.
Building Energy Ratings (BERs) give information on how to make your property more energy efficient and reduce your energy costs. All properties bought, sold or rented require an BER. BERs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your property could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All properties are measured using the same calculations, so you can compare the energy efficiency of different properties.
Please contact us for more information about this property.
A non-refundable contract deposit of 10% (minimum deposit of €6,500.00) is required to be paid by the successful bidder for this property.
A Bidder Security Deposit of €10,000.00 is required to be pre-authorised from the bidders debit or credit card through the payment facilities on the auction website when registering to bid. A bidder has also the option of transferring the minimum deposit amount by bank transfer to iamsold's client account to authorise them to bid on the Online Auction (please note, this option may take several days).
The pre-authorisation amount will only be captured from the successful bidder on acceptance of their bid. This will form part of the non-refundable part payment contract deposit.
Any balance of the full contract deposit must be paid by the successful bidder to iamsold within 48 hours of acceptance of their bid. The deposit balance can be paid by debit/credit card, or same day bank transfer to iamsold's client account.
All unsuccessful bidders will have their pre-authorisations released OR their bank transfer refunded within 5 working days of conclusion of an auction or withdrawal of the Lot from the Online Auction.
Bidders are required to pay a non-refundable €50.00 (including 23% VAT) registration fee per property they register to bid on.
For further information or to speak to one of our team, please call 01 687 5040.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by inspection, measurement or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. Properties may be sold via online auction or public auction and bids made prior to public auction may be accepted by the vendors. IAM Sold and our partner auctioneer will share relevant personal information and transactional updates with each other so that we can effectively market and sell properties including the arrangement of viewings and follow up.
