Description
Accommodation
BER Details
Lot Number
Negotiator
Auction Location
Auction Time
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Beds | |
Price | €1,150,000 |
Property Type | Investment Property |
Size | meters2 |
Energy Rating | BER-C1 |
Refreshed on | Sep 20, 2024 |
Eircode | H91N9E5 |
Description
A prime multi unit residential investment opportunity. Comprising 4 x no 1 bedroom apartments and 5 x no 2 bedroom apartments. Ranging in size from approximately 55 sq m - 86 sq m (592 sq ft - 925 sq ft). Located on The Upper Salthill Road just outside Galway City. Fully vacant and under going renovations (tenant liability). Entire building single let. Lease expiry July 2047. Total current rent reserved 100,000 per annum. Gross Annual Yield 8.69%. The property comprises a portfolio of 9 x apartments situated within a four storey semi detached, purpose built residential block. The apartments are arranged over ground, first, second & third floor and comprise of kitchen/living room, main bathroom and either one or two bedrooms. The entire building is currently undergoing renovations that are being carried out and funded by the tenant.The subject property is located on the Upper Salthill Road just minutes walk from the Salthill Prom and its many attractions. The property is also situated 2km west of Galway City centre with multiple transport links. Notable occupiers within the vicinity includes Omniplex, Seapoint Leisure & The Galway Atlantaquaria. The subject property is single let to an individual on a 30 year FRI lease from 1st August 2017 at an annual contracted rent of 100,000. The lease allows for 5 yearly CPI linked rent reviews.
Accommodation
BER Details
BER: C1 109926303 105.43 kWh/m2/yr
Lot Number
-
Negotiator
Robert Hefferon
Auction Location
Online - BidX1
Auction Time
2024-10-24 08:00
Date created: Sep 20, 2024