11-apr-16 The apartment is in Richmond Street. It is located at the back of the development.
The condition is good and it is currently rented at €1200pm until June 2016. The market value however is in the region of €1500 per month. There is an allocated parking space and also attic space as the apartment is on the 3rd floor. I have attached some photos however they are not great (received from the agent who let the apartment) so we can arrange to show you the property at a time that suits. The price the vendor is seeking is €230,000. The management fees are in the region of €1650 (waiting on confirmation on this).
The kitchen and the bathroom are both well used and need attention but nothing structural.
With a good refurbishment (which we can arrange) costing between 5 and 6k we estimate this apartment will generate at least 1500 per month. Presently 2 beds in ok condition rent for 1400 without parking and usually one bedroom is substandard to the other which in this particular apartment is not the case.
The yearly management fee is 2,200 which is at the upper end but is reflected in the fact that there is a caretaker on site Monday – Friday which offers excellent additional security.
The asking price is 220k and we know one other Investor is interested around 190-200 but he has made no formal offer.
richmont street, dublin