With private investors increasingly looking for multi-family residential units, Hooke & MacDonald is confident of finding an early purchaser for 11 apartments at Elmpark Green, Merrion Road, Dublin 4, which go on the market today at a guide price of €3.4 million. The investment will show a gross yield of 5.12 per cent.
The combined rent from existing tenancies and the previous rents attributed to two vacant units being used for show purposes comes to €174,162.
The 11 apartments in the Links block overlooking Dublin Bay and the Elm Park Golf and Sports Club comprise six one-bedroom and five two-bedroom units.
The asking price works out at about €309,000 per apartment – considerably below the selling prices for individual sales, when one-beds made €350,000 and two-bed apartments fetched €450,000, according to Hooke & MacDonald. Each of the apartments comes with a single underground car-parking space.
IRES previously purchased 201 apartments within the development in 2016 for €59 million, producing a gross yield of about 5.4 per cent.
