Ten furnished microapartments in a newly built residential complex in Frankfurt.
The complex consists of 345 apartments.
Apartment sizes range from 16 m² to 55 m².
The cost of apartments varies from 150,900 € to 429,900 €.
The construction will be completed in the spring of 2021.
It is possible to purchase a parking space in the underground garage:
- standard space 29,800 €
- wide/long space 30,800 €
- extra wide/extra long space 31,800 €
- maxi space 32,800 €
- optional with an electrical car station 35,800 €
Property of this type is sought-after for tenants. The owner gets long-term rent revenue for the low cost investment.
Financial performance
The projected annual income is 87,027 €.
The projected yield after deducting all expenses is from 3.4% to 4.5%, depending on the lease term and the occupancy.
Loan
There is the possibility of obtaining a mortgage lending in the amount of 50% of the total value of the apartments at 2.0% per annum.
Transaction costs
Notary (state registration) is 1.5 – 2%.
Acquisition tax is 6.0%.
The brokerage fee is 3.57%.
The cost of ownership
The cost of the management company is 6,240 €.
