Cannabis valued at around 700,000 euro and ecstasy worth one million euro were recovered from the property at The Strand, Donabate, in the north of the city.
Gardai from the North Central Drugs Unit based at Store Street carried out the raid.
A 36-year-old man was later arrested and was being held at Mountjoy Garda station under section 2 of the Criminal Justice Act 1996.
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