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Apartments 1,2 & 3, 33 Grattan Hill, Lower Glanmire Road, Cork

3 beds Apartment 3 bath 148.83 m 2 Energy Rating


Description

******** For sale by public auction **********
******** 5th April 2018 at The Imperial Hotel, South Mall, Cork City ********
******** Registrations start at 10am. Auction to begin at 11am *********

How do you purchase at the auction:

1) To bid on the day of the auction you are required to register on the morning of the auction. Registration is at 10 AM and the auction will start at 11 AM sharp.
2) To register you are required to bring a valid utility bill, ID (passport/drivers licence) and a bank draft or cheque. All funds need to be made out to DNG Creedon auctioneers.
3) On the day of the auction you are expected to sign the contracts when the deal is agreed.
4) You are required to pay a deposit of 10% of the purchase price or a minimum of €5,000 whichever is greater, when signing the contracts.
5) Congratulations 28 days later the property is yours.

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DNG Creedon auctioneers are delighted to present to the market this superb investment opportunity in a Cork City Centre. This building comprises of 3 X 1 bedroom apartments in a self contained block. The property is split over 3 floors, with one apartment on each floor, each separately metered.

All apartments are occupied and the property is being sold with the tenants in situ. Currently the property is producing a rental income of €20,904 per annum / €1,742 per month, with equates to a net yield of 12.6%. Tenancy details below :-

APARTMENT 1
Currently rented at €546 per month / €6,552 per annum
Tenant in situ since 2013

APARTMENT 2
Currently rented at €650 per month / €7,800 per annum
Tenant in situ since 2017

APARTMENT 3
Currently rented at €546 per month / €6,552 per annum
Tenant in situ since 2013

Other benefits of this investment include PVC double glazing throughout and zero management charges.

Grattan Hill is located only 10 minutes' walk from Cork Kent train station and a further 5 minutes' walk to Cork City Centre. This is an ideal investment opportunity.

DNG Creedon

Village Green House, Church Road, Douglas, Cork

Tel: 021 489 7300

PSRA Licence No.  001019

Affordability

Stamp Duty: €1,650.00
Total Amount: €166,650.00


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