*** TO BE SOLD AS ONE LOT ***
DNG Creedon auctioneers are proud to present to the market 7 x 3 bedroom apartments located in Cork City. There are 3 x 1st floor apartments & 3 x 3rd floor apartments. These apartments are located in the much sought-after Arcadia Hall Development in Cork City Centre. This apartment is adjacent to Cork's train station (Kent train station).
This building was constructed in the year 2002 approximately. Currently the apartments comprise of three bedrooms, one bathroom and open plan living areas. The properties are heated by electric storage heating. This building was purpose-built for student and holiday accommodation. The apartment is located on the ground floor. This building has the advantage of on-site property manager.
The properties are currently producing a Gross rental income of €92,400 for the academic year (September 2017 to May 2018). The complex management charges in total for the seven units are approximately €10,489.50 per annum plus a sinking fund of €3,150. This includes refuse for tenants, complex upkeep, block insurance and an on-site property manager. The rental income being produced net of complex management charges is €78,760.50 for the academic year (September 2017 to May 2018).
Located in Cork City Centre
Constructed in 2002
On-site property manager
Net income of €78,760.50 for academic year
Net return of 11.2%
BER Range from C3 to D2
Each unit is 71 sq m / 764 sq ft in size
To be sold as one lot. Not to be sold separately.
Viewing is highly advised contact our office on 021 489 7300 to speak to Glenn O'Connor of Shane Finn to arrange.
DNG Michael Creedon, for themselves and for the ...