Langen near Frankfurt: Multiple dwelling with eight flats

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Object Address
PLZ-ZIP Code: 
63225
City: 
Langen
District: 
Hessen
Country: 
Germany
Vital data
In a nutshell: 
Investment property or for resale with eight already divided living units and eight cadastres. Now sold only en bloc. A 104 sqm attic flat will become available at short notice. About 491 sqm actual living area, annual net rent without the attic flat that will become available 34,500 €. After renting attic plus 7,500 € rent excluding service charges possible. Five car parking spaces in the yard.
Other area space not defined as living area: 
527.19m²
Type of Investment Property: 
Block residential
Year of construction: 
1800
Condition: 
good general condition
Status at handover: 
partly rented
Current net rent per month: 
3195.00€
Asking price (Euro): 
580.000€
Asking price (Euro): 
Festpreis!
Brokerage fee incl. VAT (% of notarized purchase price): 
5.95%
Payable by: 
Buyer
Available as of: 
negotiable
Detailed Information
Size of Landplot: 
564.00m²
Other space size: 
115.67m²
Development area: 
35.36m²
Freehold or Leasehold?: 
Freehold
Detailed description of property incl equipment: 

Multiple dwelling with annex from 1800, altogether eight living units, the division per WEG (German Condominium Act) was entered in the land register. Both buildings are defined as independent sub-communities in the declaration of division.

At the moment the building is completely rented out. The pictures shown here are from the year 2005, when one of the flats was available for rental. The roof is in need of refurbishment; because the actual occupant of the attic will move out on 31.01.2014 there is the possibility to completely reconstruct and redesign the attic. According to the energy pass the installation engineering for heating and hot water dates back to 1998. The standard land value is 400 € per sqm at the date of 01.01.2013 (land value 225,600 €).

Margin (annual net rent : purchase price): 
6.6 %
Price per sqm: 
1095 €
Description of location: 

The building is located in the heart of Langen.

Renovations to be done in the building: 

Extensive refurbishment of the roof of the front building

Type of heating and warm water preparation: 
Gas
More options on heating: 
Central heating system
Age of heating system (approx): 
15 Years
Parking options: 
Parking place outside
Which is the most characteristic feature of this property: 
Investment property with development potential at a fair entry-level price

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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.