Property Description

James L. Murtagh Auctioneers are delighted to bring to market this exceptional residential investment opportunity located on Main Street in the picturesque village of Multyfarnham, Co. Westmeath, N91 E6TA. This impressive portfolio spans a large, centrally located site along the banks of the River Inny and features seven well-appointed residential units, a character-filled old forge brimming with potential for a stunning conversion, and a potential development site to the rear-offering a wealth of possibilities for the discerning purchaser.

This exceptional property enjoys a prominent position on the Main Street of Multyfarnham-one of Westmeath's most sought-after villages. Just 12km north of Mullingar and approximately 3km from the N4 at Ballinafid, Multyfarnham combines rural charm with convenient access.
According to the 2022 census, the village is home to a close-knit community of 460 residents. Rich in history and amenities, Multyfarnham offers both primary and secondary education (including the renowned Wilson's Hospital School), a parish church, and the iconic Franciscan Friary dating back to 1268. The village also boasts a lively GAA club, a vibrant community centre, and an active local group.
Residents and visitors alike enjoy a selection of amenities, including two licensed pubs, a restaurant, a convenience shop, a garage, and a well-maintained community park and playground.
Adding further appeal, the Portiuncula Nursing Home and the picturesque Abbey Blooms Botanical Gardens & Café are set within the scenic grounds of the historic Franciscan Friary.

Nature and heritage lovers will appreciate the proximity to Lough Derravarragh-famed in the Children of Lir legends and nearby Lough Owel. And for commuters, Dublin is just a one-hour drive away.

The property benefits from a mixed-use zoning designation under the current Multyfarnham Local Area Plan (LAP), designed to protect and enhance the vibrancy and sustainability of town centres. This zoning encourages a dynamic blend of uses, promoting consolidated development and maximizing land efficiency. It supports a wide range of activities aimed at sustaining and revitalizing town centres, prioritizing commercial, retail, and service uses as primary functions, while allowing residential development as a complementary secondary use. Secondary uses will be carefully considered by the local authority, taking into account the unique character of the area and its strategic role within the Settlement Hierarchy, offering great flexibility and opportunity for future development.

The property comprises the following;

1. Two storey block of 4 no. 1 bedroom apartments

This impressive block comprises four spacious one-bedroom apartments, thoughtfully laid out over two floors and connected by a central staircase.
Each apartment features a welcoming entrance hall, a bright and airy kitchen, an open-plan living/dining area, a generously sized double bedroom, and a well-appointed bathroom.
Beautifully maintained and presented in excellent condition throughout, all four units are fully let, currently generating a strong annual rental income of €38,400.
Tenants are not affected, making this a seamless, ready-made investment opportunity.

2. Single Storey, end terraced, cut stone house on Main Street, Multyfarnham.

A beautifully presented and spacious two-bedroom townhouse, this property impresses with high-spec finishes and a bright, modern interior throughout.
The well-proportioned accommodation includes a welcoming living room, contemporary kitchen, stylish bathroom, and two generous bedrooms, complemented by a private rear garden-perfect for relaxing or entertaining.
Currently owner-occupied, the home offers strong rental potential, with an estimated annual income of €18,000, making it an ideal investment or starter home.


3. Charming single-storey mid-terrace cut-stone residence ideally located on the Main Street of Multyfarnham.

Generously sized two-bedroom townhouse, beautifully maintained and in excellent condition throughout. The versatile layout features a modern kitchen, open-plan living and dining area, a stylish mezzanine lounge or office space, a bathroom, and two spacious bedrooms. Enjoy a private garden at the rear, perfect for outdoor relaxation. Currently generating a solid rental income of €12,000 per annum, with tenant unaffected, making this an attractive investment opportunity.

4. Single Storey mid terrace house on Main Street, Multyfarnham.

Spacious two-bedroom mid-terrace townhouse perfectly situated in the heart of Multyfarnham village. Currently undergoing renovation, this property promises modern living with a well-designed layout featuring a kitchen, open-plan living/dining area, bathroom, and two generous bedrooms. Currently vacant and ready for immediate occupation, it offers excellent rental potential with an estimated income of €18,000 per annum-an outstanding opportunity for investors or owner-occupiers alike.

5. The Old Forge - a character-rich building brimming with history and charm, offering a fantastic opportunity for conversion into a truly unique and distinctive residential home.
This historic old cut-stone forge, featuring a distinctive horseshoe-shaped door casing, presents a fantastic opportunity for a unique residential development. With the potential to be transformed into a charming two-bedroom home (subject to planning permission), this property combines character and creativity. Once developed, it offers attractive rental potential, with an estimated income of €18,000 per annum-perfect for investors seeking a standout project.

6. Rear site with development potential
Prime future development site to the rear, offering exciting potential - subject to securing the necessary planning permissions.

Viewing is highly recommended - by appointment only

BER Details

BER No. 118440841

Energy Performance Indicator: 275.61 kWh/m2/yr

This property was last updated: 8 days ago