DNG Creedon auctioneers are proud to present to the market 2 x four bedroom & 2 x 5 bedroom apartments located in Cork city. 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 four/five bedrooms, two/three bathrooms 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 €66,690 for the academic year (September 2016 to May 2017). The complex management charges in total for the four units are approximately €8,991 per annum plus a sinking fund of €2,700. 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 €54,999 for the academic year (September 2016 to May 2017).
Located in Cork City Centre
Constructed in 2002
On-site property manager
Net income of €54,999 for academic year
Net return of 12.7%
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 vendors or lessors of the property whose Agents they are, give notice that: (i) The particulars contained herein are set out as a general outline for the guidance of intending purchasers or tenants, and do not constitute any part of an offer or contract and are not in any way legally binding. (ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers or tenants should not rely on them as statements or representat ...