Am I missing something or is this a reasonable deal also?
Bigger than the OP http://www.myhome.ie/residential/brochu ... -2/2104506
Music Hall, Temple Bar
2 bed apt €125k
There’s a letting ad for the same apartment saying it is let agreed with an asking rent of €1,300 p.m. http://www.property.ie/property-to-let/ ... 2/1170168/
Let’s assume the renters got a €100 discount, that is still €14,400 p.a. or a gross yield of 11.5%. Not shabby at all.
As an investment it might make sense, but as an apartment to live in it looks depressingly tiny. The living room is the width of a corridor, and there is zero apparent storage space. I’m guessing it is south of 500sq ft, which is frankly a joke for a two bedroomed apartment.
I doubt any sane owner occupier would buy a place that small, so it is left only to investors. I imagine investors will need those 10%+ yields to compensate for the risk of further falls in capital value. This will probably sell at or close to the ask.
The building has short term holiday rentals, and I also found this gobshite’s post below. Mightn’t be the quietest apartment around.
Fakhro's Music Hall, Temple Bar (Dublin) http://wikimapia.org/1815069/Fakhro-s-M ... Temple-Bar
The Music Hall apartments are Temple Bar's hippest afterhours zone. They have become home to the underground house and progressive music scene. Abbadi's crib has become a must especially on Saturday nights when the crew unite for a party that extends well into the afternoon hours. Many have flocked to these apartments time and time again. Surely, a night out in Dublin is never complete without a beat or two at Abbadi's. See you there!!