Those looking for an opportunity in Dublin’s thriving private rented sector (PRS) market will likely be interested in the sale of 101-103 Francis Street.
Located in the heart of the city’s historic Liberties, the investment comprises 10 two-bedroom apartments located above the well-known Anti-Social Bar.
Seven of the units are fully let and producing a highly reversionary gross rental income of about €98,172 per annum, with rents ranging from €920-€ 1,800 a month. There is further immediate potential to add up to €75,000 in income per annum through the letting of the three vacant apartments which include a penthouse.
With agent BNP Paribas Real Estate guiding a price of €3 million for the portfolio, the prospective purchaser can expect to secure a reversionary yield of 5.5 per cent after acquisition costs following the letting of the vacant units.
Matthew Vanston of BNP Paribas Real Estate says: “101-103 Francis Street offers a fantastic opportunity to acquire a real value-add residential investment in one of Dublin’s most sought-after areas. There is a great opportunity to increase rent roll through the letting of the vacant units or by seeking vacant possession and potentially redeveloping the property, subject to planning permission.”
