Overall Floor Area: 557m2

An excellent opportunity to acquire a terrace of three pre-1963 houses that have been converted to apartments.

88 - 90 Prussia Street is located to the north east of Manor Street, directly opposite Finglas Place which provides pedestrian access to the Dublin Institute of Technology DIT Grangegorman`s College Campus. We understand the DIT College Campus is still under development and should accommodate over 22,000 staff and students when fully completed.

There are 4 popular cafes within a 100 feet of the property and the property is also located less than 230 metres walking distance from the Park Shopping Centre and less than 500 metres from LIDL on the Old Cabra Road.

The Dublin 7 area is very popular with the young professional rental market given it`s close proximity to the city centre and good public transport network (LUAS & bus service). The immediate area is popular with the IT (Google, Facebook etc.) and young professional market and scores very highly on Air B n B ratings as there are a host of popular cafes, pubs and restaurants in the immediate area.

The property is located to the immediate south of a large garage site that has obtained full planning permission for a large 4 storey 203 bedroom student accommodation building and we understand that there are other student blocks planned for the area as there is rental demand for approx. 11,000 DIT students and staff.

It is also located close to Manor Street Business Park, O`Connor Sutton Cronin Engineers, Aughrim Street Credit Union, Manor Pharmacy, Love Supreme café, Cowtown Café and a host of other food offerings.
Prussia Street is a short walking distance from the Grangegorman LUAS station and several legal-related services in the area including the Family Court, the Law Society of Ireland, Kings Inn and The Four Courts.

The property comprises a terrace of 3 redbrick two storey houses that have been fitted out to a reasonably high standard to include 4 separate apartments in each house. The properties are Pre-1963 and have been split up into apartments to provide self-contained apartments that are separately metered for electricity and have their own kitchens, bathrooms and bedrooms. Most of the apartments have been fitted out with modern kitchen and bathroom fittings and heating is provided by a mix of gas and electric storage heating.

All of the apartments are currently rented out on a short term basis with a current rent of approx. €150,000 p.a. However, there is potential to increase this rent after some of the current Leases expire and new Leases can be created. There is also potential to refurbish some of the apartments when they become vacant in order to increase the rental income. We have been informed that there could be scope to increase the current rent to a level in the region of €250,000 p.a. based on the current open market rental values that are being achieved for yearly rentals.

There is also potential to increase this rent by a further €84,000 p.a. by purchasing and developing a small apartment block at the rear of the houses comprising of 2 two bedroom apartments and 2 one bedroom apartments.