For Sale by Private TreatyRiverville & Riverweir, Oakview Village, Tralee, Co. KerryMulti Family Investment OpportunityTenants Not Affected
Excellent opportunity to acquire two modern residential development blocks in an established and sought after residential location on the northern periphery of Tralee Town.The investment comprises 46 apartments (26 no. one bed apts and 20 no. two bed duplex apts) which form part of the Oakview Village development. Block 1 â€“ River Ville â€“ 13 One Bed Apartments and 10 Two Bed ApartmentsBlock 2 â€“ River Weir - 13 One Bed Apartments and 10 Two Bed Apartments100% occupied and let producing a combined existing gross rental income of €360,876 p.a. and an estimated rental income of €406,800 per annum occurring in 2017.The majority 42 of the 46 apartments have the benefit of own door access therefore minimal common areas to be maintained thus maximising the net adjusted income.Tralee has seen large y-o-y residential rent increases, with strong demand for rental properties within the town.
Availability of rental accommodation within Munster is at its lowest since 2006 (Source Daft.ie).
Considering the very limited supply, both rents and capital values are forecast to continue to strengthen throughout 2017.
Offers sought in excess of €4.5 million reflecting a Net Initial Yield of 7.69%Available in individual or combined lotsTenants not affectedLocation:
Riverville House and Riverweir House are both purpose built residential blocks within the Oakview Village, Tralee. Tralee is the largest town in County Kerry and acts as the County administrative, retail and services centre. It is situated in north-west County Kerry approximately 99km south of Limerick, 118km north of Cork and 31km north of Killarney.
The town has a number of key functions including principal retail and commercial area, civic and administrative and cultural functions with leisure, entertainment and community facilities. Other services in the town include a District and Circuit Court, Kerry General Hospital and the Headquarters for Kerry County Council.
Riverville House and ...