Fancy a Victorian townhouse five minutes from the city centre for the price of a three-bed suburban semi?
Number 5 Belvedere Place, on the market through DNG for €550,000, is now in mixed- use, but with a little imagination and funds for a major refurbishment, it has potential as a stylish four-storey over basement city residence. Some costs could even be offset under the Living City grant initiative.
Located just off North Circular Road and Mountjoy Square, the 375 sq m (4,036 sq ft) property was fully let up to 12 months ago, with an MMA gym at basement level, and the ground and first floors occupied by the Polish Library. The second and third floors were private apartments.
0 of 3
If purchased as an investment, selling agent Austin Reynolds says the current rental value is €65,000 per annum, representing a gross yield of about 12 per cent. However, with a significant upgrade to luxury apartments on each floor, it’s likely the rental offering could yield a substantially higher return.
With double height ceilings and original period features intact, including ceiling roses and cornicing, number 5 would make a very gracious family home with proper refurbishment.
To the rear is a 15m yard extending, with walled boundary and vehicular access onto Fitzgibbon Lane, and within close proximity of O’Connell Street.
