Joint agents CBRE and DNG Flanagan Ford are guiding €2 million for a partially occupied development of 34 apartments at Ardfinn on the Strandhill Road in Sligo.
The price equates to a valuation of only €58,823 per residential unit. The complex is currently producing a rent of €126,000 per annum. The development, located 2.5km outside Sligo town, includes 16 apartments which are occupied, three which are vacant and another 15 that still have to be fitted out.
Most of the homes are spacious, with 18 having two-beds, 10 three-beds and eight one-beds.
The joint agents said that as there is a clear opportunity to double the income from the scheme they expect interest from local as well as national investors.
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