The High Court gave CAB possession of the home of Brian Collopy last December.
The court was told Collopy, 33, had accrued his wealth from criminal activity which included drugs dealing and selling guns to a Limerick feud gang.
The three bedroom dwelling, Ashby House, Fedamore, on the outskirts of Limerick, was sold at public auction in Limerick.
The guide price was between €180,000-200,000.
Bidding between solicitors for two parties opened at €180,000 and went to €215,000.
After it was withdrawn at €215,000 it was sold to one of the two bidders for a sum believed to be €225,000.
Two members of the CAB attended the auction which attracted about 20 members of the public in the Pery Hotel.
Brian Nestor of Nestor Shanahan Auctioneers described the three bedroom bungalow as a "generous detached house."
He said: "It needs a bit of work inside and is situated on a nice site of about three quarters of an acre about six miles from the city."
Fedamore is a much sought-after residential suburb of Limerick city.
Brian Collopy moved out of the house last December after the CAB were given possession of the property.
As well as losing his house, Collopy has a tax bill in excess of €400,000 hanging over him.
Originally from the St Mary's Park area of the city, Collopy was a close friend of crime boss Kieran Keane, who was murdered on the outskirts of the city in 2003 after being abducted by a five-man gang.
Collopy has 16 convictions for various crimes.
Last December the CAB went to the High Court seeking an order for possession of the house at Fedamore under the Proceeds of Crime Act 1996.
The proceeds of yesterday's sale will be lodged in an account for seven years before it finally goes to the exchequer. This is to allow time for a possible appeal.
Two months ago the CAB sold the former home of Martin Cahill, better known as The General, in Cowper Downs, Rathmines for in excess of €900,000.