Student accommodations in Drumcondra for sale for €1.95m

Gross yield for 28-bed Woodville on Botanic Avenue expected to hit 9.1% in 2018

Woodville is a block of purpose-built student apartments and a townhouse in Drumcondra, Dublin

Woodville is a block of purpose-built student apartments and a townhouse in Drumcondra, Dublin

 

Five student apartments and an adjoining two-bedroom townhouse accommodating 28 beds at Botanic Avenue in Drumcondra, Dublin 9, are to be offered for sale through agent Finnegan Menton for €1.95 million.

The investment showed a gross yield of 8.4 per cent in 2017, and is expected to rise to 9.1 per cent in the current year.

The purpose-built student accommodation known as Woodville at 52/54 Botanic Avenue had a rental income of €163,840 in 2017. This is due to rise to €177,780 in the current year. All the units are let to DCU students, who pay €150 per week.

DCU College on the former St Patrick’s College Campus in Drumcondra is less than a 10-minute walk from Woodville.

In addition to being fully let for the 2018 academic year, the portfolio is also fully booked for short-term summer lettings to overseas students. Each student apartment has an entrance hall, livingroom, kitchen, bathroom and two bedrooms with en suite bathrooms.

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