Two apartment buildings, Essen, Germany

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Two apartment buildings, Essen, Germany

949,000 €
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Total area: 1,005 m² Yield: 7.4% Built in 1959
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Features
  • Operating Incomе: 70,000 €
  • Land area: 497 m²
  • 5-floor building
  • Occupancy: 100%
  • Notary (state registration): 2.0%
  • Acquisition tax: 6.5%
  • Broker: 6.0%

Two residential houses.

Description

The houses consist of 16 apartments. The apartment sizes span between 51 m² and 70 m². 

Some apartments have balconies. One apartment has an access to the terrace.

There is a garden in a courtyard. 

There is a laundry in the basement.

All apartments are rented.

The building was built in 1959. The houses are repaired as necessary.

Equipment

  • PVC windows
  • intercom
  • central gas heating system

Financial performance

Absolute annual income is 70,000 €.

The current yield of 7.4%. 

Transaction costs

Notary (state registration) is 1.5 – 2%.

Acquisition tax is 6.5%.

Brokerage fee is 5.95%.

Location and nearby objects

The houses are located in the northern part of Essen, close to public transport stops. The Essen University is situated in a few-minute drive from the buildings.

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Artem Ezhkov
Artem Ezhkov
Real Estate Expert Tranio in Essen
+44 20 3608 1267
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