Purchased in November 2017 this multi unit property was only generating €45,000 per year, in poor condition and in need of renovations.
Purchcase price: €600,000
Renovations: €25,000
Eight self contained units and one 1 bed apartment (see specifics below)
Total investment: €625,000
The below rents were achieved within 3 weeks resulting in a yield of 18%.
| Unit | Type | Rent per month |
|---|---|---|
| 1 | Studio | €1,250 |
| 2 | Studio | €1,200 |
| 3 | Studio | €1,100 |
| 4 | Studio | €1,200 |
| 5 | Studio | €1,200 |
| 6 | Studio | €1,000 |
| 7 | 1 Bed | €1,400 |
| 8 | Studio | €1,200 |
| Total per month | €9,350 | |
| Total per year | €114,600 |
Turnover was achieved in 3 months, both the capital value and the yield has been raised resulting in an attractive investment for any prospective buyer or indeed for the owner to hold.