Frankfurt Ostend: Capital Investment apartment with good tenants

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Object Address
PLZ-ZIP Code: 
60385
City: 
Frankfurt
Part of City: 
Ostend
District: 
Hessen
Country: 
Germany
Vital data
In a nutshell: 
Capital investment in Frankfurt with good rental income. Near new ECB, 8th floor. Reliable tenant.
Rooms: 
1,0
Living space in sqm (Info): 
28.14m²
Type of Condo: 
Apartment
Year of construction: 
1968
Balcony, Garden, Backyard: 
Balcony / Loggia
Floor (groundfloor=0): 
8
Condition: 
good general condition
Status at handover: 
rented
Current net rent per month: 
340.00€
Asking price (Euro): 
78.800€
Asking price (Euro): 
additionally parking space 8000
Brokerage fee incl. VAT (% of notarized purchase price): 
5.95%
Payable by: 
Buyer
Available as of: 
negotiable
Energy Performance Certificate (EPC)
Date of Energy Performance Certificate: 
17.9.2007
Type of energy performance certificate: 
Residential building demand certificate
Residential Building - Final Energy Value: 
130.40 kWh/(m²∙a)
Energy consumption for hot water: 
included
Main energy source: 
Fuel oil
Year of Construction of the Heating System: 
1988
Detailed Information
Co-ownership shares: 
24,5 / 10.000tel
Size of Landplot: 
6216.00m²
Freehold or Leasehold?: 
Freehold
Monthly housing fee: 
142.00€
Plus monthly payment to sinking fund: 
29.00 €
Payable utilities by tenant: 
200.00€
Detailed description of property incl equipment: 

Residence in central Ostend, near the zoo. Built in the year 1984, 184 units, basement with shared laundry, parking and garage. There is an outdoor parking space belonging to this apartment. From the south-facing balcony of the apartment you have a beautiful view of Frankfurt. The small kitchen is separated by a door from the living room, a fitted kitchen belongs to the apartment. The bathroom is equipped with shower, sink and toilet and comes from the eighties.

The building has a gas central heating. The windows are double glaz with plastic frames. The apartment is rented. The tenant would like to stay if possible in the apartment. According to the lease, the tenant pays € 340 basic rent and utilities of € 200. There was no loss of rental income according to the seller.

Margin (annual net rent : purchase price): 
5 %
Factor: 
20x
Price per sqm: 
2800 €
Description of location: 

The Frankfurt Ostend, especially in the vicinity of the zoo, is a district that has grown considerably in importance in the past year. The relocation of the European Central Bank into the new building, which is only a few minutes of this complex, has resulted in an increase of demand for rental properties in this part of the city and it is expected to continue to rise. On foot it is ten minutes to downtown. Going eastward to Hanauer Landstrasse, opens up many opportunities to go out and enjoy the evening or night life of the city where fine restaurants, bars or other coveted event locations.

Connection to traffic routes / public transport: 

The tram stop is only 2-3 minutes away. The S-Bahn is about five minutes. By car you are on the freeway 661 within a few minutes driving east.

General noise level of location: 
Quiet
Number of Units in Building: 
184
Renovations to be done in the flat: 
The tenant renovates the apartment herself.
Type of heating and warm water preparation: 
Gas
More options on heating: 
Central heating system
Parking options: 
Parking place outside
Asking price for parking place: 
8000.00€
Comments regarding parking situation: 
Fixed parking space belongs to the apartment, is rented out with the apartment and included in the rental price.
Kitchen built in: 
Yes
Which is the most characteristic feature of this property: 
Small but nice capital investment
About reason for sale: 
For age reasons

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PDF Files / Floorplans:
View of the new skyline with the new European Central Bank (no view from the apartment!)
View of the new skyline with the new European Central Bank (no view from the apartment!)

Exit to the balcony
Exit to the balcony

View from the balcony
View from the balcony


View into the kitchen
View into the kitchen

Disclaimer:
All data given here are based on the informations from the seller or owner and are without any guarantee by the agent or broker.
Especially room sizes or area sizes are not verified. If there is any doubt we recommend to verify the area sizes or living area.