Investment property with more than €76,000 net annual rent

Key facts

Purchase price & costs

About this house

Update: The first viewing appointment will take place from the end of September. Unfortunately, not earlier, but this is due to the holiday season. You are welcome to express your interest.

For your information: The valuation report prepared a few months ago amounts to €1,760,000. This price is to be understood as a basis for negotiation.

For sale is a high-quality renovated 7-family house with an exceptionally good return of over €76,000 net annual cold rent p.a. The property is located in a quiet residential area with schools and kindergartens just a few hundred meters away, views of the castle, etc. Bus stops are located directly in front of the house. Various shopping facilities and restaurants can be reached within a few minutes.

Here are some examples of the modernization measures:

- On the ground floor, 3 rental apartments were completely newly created, with
o underfloor heating
o new flooring (tiles or click vinyl)
o triple glazing
o electric shutters
o six-layer-clad walls (exceptional fire and sound insulation) between the apartments.
o Modern fitted kitchens with fridge-freezer combination, oven, ceramic hob, dishwasher and extractor hood
o Fully dimmable ceiling lighting
o Modern bathrooms with walk-in showers and bathroom furniture
o New electrical wiring
o New heating system
o The walls are wallpapered with elegant fiberglass wallpaper
o High-quality doors in the apartment and entrance area with the highest security class
o And much more

- Of the 4 apartments on the upper floor, 3 were extensively renovated. Some examples:
o new flooring (tiles or click vinyl)
o new efficient radiators and heating pipes with high-quality insulation
o new energy-efficient apartment entrance doors
o new interior doors
o new electrical wiring
o new bathroom, incl. bathroom furniture
o the walls are partially wallpapered with elegant fiberglass wallpaper
o Fitted kitchen with fridge-freezer combination, oven, ceramic hob, dishwasher and extractor hood
- The 4th apartment is also of high quality, but has not been completely modernized and extensively remodeled. The kitchen was newly tiled and a new tiled backsplash was installed.

The wastewater supply was also newly installed in the new apartments on the ground floor.
The building’s entire main wastewater pipe was completely and extensively renovated in 2022 using liner technology.

The plot size is 1,355 sqm
The living area is 524 sqm.
The house has
- 6 rental apartments, each with 3 rooms, kitchen and bathroom, measuring approx. 75 to 80 sqm
- and a 2-room, kitchen and bathroom apartment measuring 66 sqm.
The The usable floor area includes 12 basement rooms, 4 attic storage compartments and two large laundry-drying rooms.

The property also includes 3 well-rented garages and 9 rented parking spaces.

All rental agreements are indexed leases. Trouble-free rent adjustments are therefore possible every year.

Further pictures, the location and additional information will only be provided to serious prospective buyers.
Of particular interest to investors is certainly the possibility of converting the apartment building into 7 condominiums.
All tenants are solvent, well educated (engineers, skilled tradespeople and other professionals) and employed (no Jobcenter recipients).

The property is currently being offered by the owner. A broker’s commission of 7.14% is therefore not currently payable.

We can also deduct the entire furnishings, 6 fitted kitchens, 6 sets of bathroom furniture, bathroom accessories, various very high-quality curtain and gallery rails, and various lighting fixtures/lamps from the purchase price and conclude a separate purchase agreement for these items. The current value is approximately €80,000. Naturally, no notary fees or real estate transfer tax would be payable on this amount.

Fittings and features, as described

High quality

Location

Location details

See object description.