| Type | Block of flats |
|---|---|
| Living area approx. | 267 m² |
| Rooms | 10 |
|---|
| Plot area | 557 m² |
|---|
| Purchase price | 415.000 € |
|---|---|
| Price per m² | 1,552.33 €/m² |
| Commission | 4,76% (4,76 % inkl. MwSt. vom not. Kaufpreis) |
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More financing calculators and assumptionsThis well-maintained 4-unit apartment building in Recklinghausen-Grullbad offers investors a solid foundation with an attractive outlook. On a plot of approx. 557 m², a total living area of approx. 267 m² is distributed across four individual units, whose different sizes appeal to a broad tenant target group.
Profitability & income situation:
The property is offered at a market-appropriate purchase price of €415,000. The current actual annual net cold rent amounts to approx. €26,545, which already corresponds to a solid gross rental yield of 6.4%. A particular strategic advantage for the buyer arises from the fact that the two largest units on the 1st floor (approx. 91 m²) and 2nd floor (approx. 84 m²) will be vacant upon purchase. This enables immediate, market-based re-letting and forms the basis for future income development.
Income potential (projected outlook)
Through the re-letting of the vacant units as well as moderate adjustments to the ancillary usable areas (garages/parking space/garden use), a projected annual net cold rent of approx. €31,831 can realistically be achieved. Based on the asking price, this improves the figures to a purchase price factor of approx. 13.00 and a gross rental yield of approx. 7.67%.
Condition & outlook:
The property presents itself in an ongoing revitalized condition. Heat is supplied via gas individual-unit heating. An exceptional feature is the garden area with a solidly built multi-purpose house, which impresses with a sauna and a fireplace - a guarantee of high tenant satisfaction and a unique selling point in the local rental market. Three individual solidly built garages and one parking space round off the offer. Invested sustainably: the roof of the garage complex was completely re-roofed in 2023.
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