A four-storey building of apartments in the heart of Waterford City have sold at auction for more than twice their reserve.
Number 5 Mary Street houses four separate one-bedroom flats and sold for €341,000 in online auction on September 30, which was held by YouBid.ie
The property came to the market with an Advised Minimum Value (AMV) of €165,000 and sold after 161 bids from four bidders.
The building is located a two-minute walk from the Edmund Rice Bridge leading into the heart of the city centre and despite a need for refurbishment, it is believed that the building has potential to amass an annual rental income of €35,000.
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A total of 92% of properties were sold on the day with prices, on average, around 20% above reserves.
