Auction Picks: For the Small Investor (South Dublin)

Today we take a look at three small residential investments in South Dublin to help you spot a bargain in the latest Allsop Auction.


The Allsop Auction is always a popular touch point in the property market calendar for vendors, buyers, banks and protesters alike. But despite the noise and clamour, there are often bargains to be had if you know where to look and plan your bidding carefully. Each day this week in the lead up to July 1st, we are highlighting interesting lots and analysing the assets to help you make a sound investment.

Investments For The Small Investor

South Dublin

Yesterday we showed you three potential investment properties in North and West Dublin. Today it is South Dublin’s turn.

Usually the more popular market, South Dublin has it’s mix of prime and more affordable areas. Today we are looking at some mid-range investments that may suit a new or seasoned investor.

2 Bed Apartment in Kilmainham, Dublin 8

Lot 2: Reserve Range €200,000 – €220,000

Lot 2: 61 St. James Wood South Circular Road, Kilmainham, Dublin 8 – Reserve not to exceed €200,000 – €220,000

This two bed apartment is in one of the most affordable central Dublin postcodes. Dublin 8 has a big mix of apartment buildings but the area is popular with young professionals, students and medical staff from the nearby hospitals. This apartment is not currently let so you will need to find your own tenant.

Pros: Good location for city centre. Adjacent to St. James’s Hospital – great for rental demand from medical staff.

Cons: No tenant. Small at 678 sq ft.

Analysis: Currently unlet but could achieve approximately €1,200 to €1,400 per month. If you could buy this at the upper reserve price of €220,000 you would achieve a very attractive gross yield of 7.5% – before subtracting your expenditures.

We expect this one to be popular. Dublin 8 is a good rental area and one of the most affordable postcodes for investors to purchase properties. This should achieve between €220,000 and €250,000.

2 Bed Apartment in Dublin 4

Lot 183: Reserve Range €325,000 – €350,000

Lot 183: 36 Brooklands, Nutley Lane, Dublin 4 – Reserve Range €325,000 – €350,000

Not the prettiest apartment block but a fantastic location for a rental investment. Not only is this tucked away beside the Merrion Shopping Centre which includes a popular Tescos, it’s also within walking distance to UCD, the offices and attractions of Donnybrook and Ballsbridge and a stone’s throw from Sydney Parade DART station taking residents into the city centre.  If that wasn’t enough, St. Vincent’s Hospital is immediately opposite – bringing a wealth of renters in the form of medical professionals – young nurses, medical students and more.

Pros: Enviable location for any occupier. Never-ending renter demand.

Cons: Basic two-bed, no en suite. Not let, but you would have no problem finding a tenant.

Analysis: Similar apartments in the area are achieving at least €1,400 per month. At upper end of the reserve range at €350,000, this would achieve a gross yield of less than 5%. However, because of the location, strong rental demand and potential for capital growth, this should happily achieve that level.

2 Bed End-of-Terrace in Milltown, Dublin 6

Lot 122: Reserve Range €350,000 – €375,000

Lot 122: 45 Millbrook Village, Milltown, Dublin 6 – Reserve Range €350,000 – €375,000

Our third and final South Dublin investment property is this townhouse in the popular Milltown neighbourhood. These little two-bed units may not have all the modern fixtures and finishes of a new apartment block – but with their own front door and surface level parking immediately outside – these are really popular with young couples who want to experience something of living in their own house. Milltown is an excellent location – close to town with great access via road and the Luas – plus many local amenities that makes this an attractive central suburb.

Pros: Own front-door townhouse. Affluent central location.

Cons: Potentially dated interior, may need updating before letting. Need to find a tenant.

Analysis: Two-bed townhouses in the Milltown area would go for €1,400 – €1,500 per month. At the upper reserve this would equate to a gross yield of less than 5% – but many buyers will expect plenty of growth in the overall prices in this area. This lot might also attract owner-occupier buyers who will normally be more passionate bidders than the calculating investors. They may drive the price towards €400,000 which could price the investors out of buying this one.

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That’s three for today. Tomorrow we look at some larger residential investment buys for the investor with deeper pockets. Be sure to check out the full Allsop Auction Catalogue for July 1st 2014 for yourself.