12 Victoria St, Portobello

What are peoples thoughts on this? Apparently bid of 365k on it.
myhome.ie/residential/brochu … -8/2224731
Some background info: The house is a complete shell - needs to be completely gutted. A pipe burst during a cold spell circa 2 years ago, resulting in a big hole in the ceiling - so it’s not even possible to enter one of the rooms upstairs. The roof needs to be repaired, timber is rotting in it - basically the whole inside of the house needs to be gutted. There was a fire in the house during the 70’s, and it was re-built differently to the other houses on the street, hence the different facade - it’s lost all of it’s “Victorian” features. One could even argue that the facade needs to be re-designed, to try restore some of the original features.
Another consideration is that if you wanted to build an extension to the rear, planning permission would be required - so it would mean paying mortgage on house while awaiting PP.
There is off street parking to the rear, potentially for 2 cars. There is a huge shed there now, but this would be flattened, leaving a circa 40 ft Southwest facing rear garden.
Number 38, which is almost directly across the road, sold for €590k in May 2012. This has no off-street parking, but had all original “features” intact, and is an end of terrace (although there is still no side access).
myhome.ie/residential/brochu … -8/1768427
This one is not for the faint hearted! I’m guessing €200k to €250k required (probably cash, as difficult to get financing for renovations) to refurbish - would this be a reasonable ball-park estimate? Anyone care to guess what the finished product would sell for in this market, assuming finished to a good standard, with extension - so circa 1,600 sq ft house when completed? Difficult to say, but how much “value” can be assigned to the “Victorian” features?

The false Victorian facade couldn’t be more offputting.

Is there such a term as ‘brick cladding’?

Well, well, another house for sale with an offer about 10% below asking. Has there ever been a house for sale in Ireland that doesn’t have a bid on it 10% below asking? Ever? In almost 100 years of the State’s existence has that ever happened even once?

Not sure I get your point. I’ve seen plenty of properties with bids within a wide range (below and above) of the asking price?

You have become cynical in your old age :slight_smile:

In the current SCD market surprise might well be reserved for houses that do not have offers 10% in excess of the asking price.

Sold €380k on 20-9-13

Yep, and I wasn’t the buyer! Although it’s already beginning to look “cheap”, given the way the market has gone in the last few months.
There’s a sign for planning permission outside the house now - owner looking to restore the facade, and build a circa 65 sq m extension at the back. Will be fine property when complete.

4 Victoria street sold 23-5-14 for €610k on 23-5-14

A posh pre63 property with 3 studios and 5 one bed apartments along with a potential income of €65 to €70k

If you considered that posh, I would hate to see your rentals, LL. :laughing:
Dire kip that had a slightly modern decor.

I was being “tongue in check” :slight_smile:

For sale, asking €1.5m. 380k doesn’t seem too bad in hindsight!

knightfrank.ie/properties/r … 8/htmo6016

They’ve done a beautiful job on it in all fairness. But €1.5m?

So much design in a narrow space. I lust after those folding doors but what a letdown to watch your neighbours side wall! And the stairs with the glass wall? Do you want to fry your breakfast under there? And don’t sit on both sides of that breakfast bar. In Kensington or Chelsea, this sort of over-design is normal but Portobello?

There’s such bad value at this price level in prime Dublin locations so, if walking distance to Grafton Street is the priority, this might tempt someone.

I’d prefer this, for example. But after a no deal Brexit, would it even get 1.2M?

myhome.ie/residential/broch … -6/4313285

“Beside the kitchen is a bespoke corkscrew wine cellar with remote control glass hatch door. This cellar has a capacity for 1,000 bottles of wine!”

More likely to become an extra bedroom. You can opt for just in time supplies of wine.