Commission-free residential portfolio

Key facts

Purchase price & costs

About this investment property

COMMISSION-FREE RESIDENTIAL PORTFOLIO COLOGNE & LANGENFELD
4 condominiums from a long-standing private portfolio
3 × Cologne · 1 × Langenfeld · commission-free
Purchase price: €1,070,000
Annual net cold rent (target): €50,124

COLOGNE · NIKOLAUSSTRASSE 48
5-person shared flat – a rental concept established for more than 20 years
The largest apartment in the portfolio has been used as a 5-person shared flat for more than two decades. The concept was already in place with the previous owner, was adopted upon acquisition, and has been successfully continued ever since.
Each resident has their own tenancy agreement.
Vacant rooms could regularly be re-let within a short period. The rooms and communal areas were renovated regularly.
Two rooms are currently being reorganized and upgraded. After one resident moves out, their room will be renovated and taken over by a resident already living in the shared flat. Their previous room has also been refurbished; the tenancy agreement for re-letting it at a monthly flat rent of €560 is shortly due to be signed.
€2,560 monthly flat rent
€30,720 income per year
After deducting the ancillary-cost share of around €560 per month used for the calculation, this results in a calculated net rental share of around €24,000 annually.
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COLOGNE · OBERSTRASSE 101
€807 net cold rent monthly
€9,684 net cold rent annually
The rent was regularly adjusted during the holding period within the scope permitted by law. The tenancy has existed for more than nine years
The tenancy has run calmly and reliably for years. There have been no problems with rent payments.
The high demand for new lettings of other apartments in the immediate Cologne portfolio also shows that the location is not dependent on this existing tenancy. For new lettings, it has sometimes been necessary to process three-digit numbers of interested parties within a very short period.
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COLOGNE · OBERSTRASSE 113
Will become vacant. Will be renovated. The buyer decides.
After the tenant moves out, the apartment will be renovated and deliberately not re-let as part of the sales marketing. It will be handed over vacant in order to give the new owner the greatest possible scope for action.
A TARGET net cold rent of €800 per month / €9,600 annually is assumed for the apartment after renovation.
This rental range is currently being achieved for appropriately renovated smaller apartments in the surrounding area.
The buyer therefore receives no new rented apartment with a lease specified by the seller, but can decide independently:
rent out anew · use personally · retain in the portfolio · sell separately
Especially within the overall offering, vacant possession creates additional flexibility.
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LANGENFELD · WUPPERSTRASSE 44
3 rooms · 71 m²
The Langenfeld apartment has approximately 71 m² of living space, three rooms and two balconies on opposite sides of the building.
The tenancy has existed since August 2010. The lease was redrafted by mutual agreement in 2014 as part of the acquisition.
€570 net cold rent per month
€6,840 net cold rent per year
As a landlord, one could hardly wish for a better rental history:
the same main tenant since 2010, no rent arrears and an exceptionally quiet tenancy.
Rent adjustments were made regularly during the holding period within the scope permitted by law.

Location