Investment project.
Description
The project includes the renovation of the residential four-story building.
The total area of the building is 5,000 m².
The house consists of fifty apartments.
The building is provided with the parking for 37 cars.
Purchase pirce of the building — 23,000,000 €.
Project entry costs — 24,841,500 €.
Renovation costs — 5,800,000 €.
Total costs — 30,641,500 €.
Equity — 18,384,900 €.
Amount of financing — 12,256,600 €.
Sales revenues — 40,500,000 €.
Profit of the project — 9,858,500 €.
IRR of the project — 15%.
Project term — 24 months.
It is possible to obtain bank loan for 60% of the value of the project at 1.75% per annum.
Notary (state registration) is 1.5–2%.
Acquisition tax is 3.5%.
The broker's fee of 3%.
The project is located in the residential area of Munich. Community amenities, including public transport stops and a Metro station, are situated in proximity from the property.
