Eleven Merrion Road apartments for sale for €3.4m

Price of about €309,000 per unit way below selling price for individual apartments

The 11 apartments in the Links block at Elmpark Green, Merrion Road, Dublin 4 overlook Dublin Bay and the Elm Park Golf and Sports Club. Photograph:  Ben Ryan

The 11 apartments in the Links block at Elmpark Green, Merrion Road, Dublin 4 overlook Dublin Bay and the Elm Park Golf and Sports Club. Photograph: Ben Ryan

 

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.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
GO BACK
Error Image
The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment.
Comment Sign In

Forgot password?
The Irish Times Logo
Thank you
You should receive instructions for resetting your password. When you have reset your password, you can Sign In.
The Irish Times Logo
Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.
Screen Name Selection

Hello

Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
Forgot Password
Please enter your email address so we can send you a link to reset your password.

Sign In

Your Comments
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication.