Frankfurt: Old style building with five small apartments near Merianplatz and Berger Strasse

Detailed Information

Size of Landplot:

64.00m²

Freehold or Leasehold?:

Freehold

Monthly Expenses ca.:

600.00 € (annual non-transferable maintenance and service cost about)

Annual land tax:

337.44€

Detailed description of property incl equipment:

The apartment building was held family-owned in the last 15 years, partly owner-used and partly rented out. Due to the high demand situation, renting out furnished as never a problem. The equipment can be described as good standard, with a fitted kitchen, a bedroom, a living room and a bathroom in each apartment - with bathtub or shower. The ground floor apartment has 30.62 m² living space, the homes from 1st Floor to the attic have approx 36.22 sqm and the total living area is 175.22 m².

The building has a central heating system with hot water tank. It was renewed in 2010. All kitchens were renovated in 2003, the baths also 2003 (except bathroom in one apartment), the windows are double glazed with aluminum frame, from about 1989. In 1995 the house was provided with thermal insulation on the street side as well as insulating plaster. The roof was also newly covered with "Frankfurt tiles" about 1995. The basement was renovated in 2014.

The tenants pay flat rents.

Consumption of fixed costs for the house:

Electricity, gas and water € 430 monthly

Local tax € 337.44 per year

Garbage disposal € 1,662 per year

With water, gas and electricity has should be noted that an apartment has been used in recent years by the family itself, and the consumption was significantly higher than the average consumption of the other apartments, where consistently singles live. The apartment is now available and may be rented to a single.

Warm rents currently:

Ground floor: 620, - €

1st floor: 800, - €

2nd floor: 720, - €

3rd floor: 800, - €

4th floor: 800, - €

Total warm rent: 3.740, - €

44.880, - € annual gross rent.

After deducting the above costs remain approximately 37,700, - € (prior to utilities coming off). This corresponds to a yield of 4.5% before deduction of management costs and taxes and excluding the acquisition expenses.

Margin (annual net rent : purchase price):

5 %

Price per sqm:

4273.5 €

Description of location:

Excellent inner-city location, a few meters to the Berger Straße and Merianplatz. This part of the Nordend-East is in particular demand. The object is distinguished in that it provides ideal housing for singles and rent well furnished. The current rents are 620-800 €, with a cost of about 100 € per month and per apartment is expected. As the apartments are furnished, a general rise in rents, if demand increases for small, furnished apartments, can not be excluded. With the new ECB in Frankfurt's east, a demand in this area continues to rise. The maintenance cost is relatively low, both within the apartments as well as inside the building. There are no exterior plots to be cared for. The location is extremely good.

Connection to traffic routes / public transport:

To the subway station U 4 Merianplatz it is only three minutes.

General noise level of location:

Alive

Number of Units in Building:

Renovations done in the building:

1988-89 Windows renewed, with aluminum frame and double glazing

1995 new roof battens, insulation and new coverage with tiles

1995 Facade renovation with insulation front and tw. laterally

2003 Extensive renovations, demolition of the central chimney from bottom to top, new floorplan with new bathrooms and kitchens,

2003 Water, sewer and electrical renewed in 2011 boiler

Apartment renovations were carried out continuously as needed. All apartments with laminate, wallpaper white.

Renovations to be done in the building:

None

Type of heating and warm water preparation:

Gas

More options on heating:

Central heating system

Age of heating system (approx):

4 Years

Parking options:

Public residential parking with pass

Comments regarding parking situation:

Ideal for young people who want to live without a car in the city.