Apartment building with commercial units
Description
The building includes 35 apartments and 5 commercial units.
The apartment sizes span between 24 m² and 69 m².
The sizes of commercial units span between 47 m² and 150 m².
There is a basement floor and an attic floor in the building.
There is a parking for 3 cars and above-ground garages for 5 cars.
In the period from 2013 to 2016, 72,000 € were spent on the current repair of the building.
The following works were done: 7 apartments, 2 staircases, front facades, a roof, a drainage system have been renovated, as well as other needed works have been done.
The heating system was installed in 2006.
The energy consumption value is 139,0 kWh/m²a.
One apartment is not rented for the moment.
The sale take place under the condition that the current property anagement will be contracted for at least 3 years.
Type of transaction: Asset Deal or Share Deal.
Absolute annual income is 177,865 €.
The current yield of 6.4%.
Financial performance on the condition that units are rented:
Projected annual income is 180,625 €.
The projected yield of 6.5%.
Financial performance at currently admissible rent increase:
Projected annual income is 186,000 €.
The projected yield of 6.6%.
Notary (state registration) is 1.5 – 2%.
Acquisition tax is 5%.
The brokerage fee is 5.95%.
The monthly gross management fee per unit is 24.95 €.
The apartment building is located in the city center of Bremerhaven directly at the pedestrian area. A big Shopping Mall, the City Theatre and the University are situated in the immediate vicinity from the property.
Bremerhaven is the largest city on the German coast of the North Sea. The population of the city has increased by 15% since 2009 and currently exceeds 120 thousand people.
The unemployment rate has decreased by almost 13% since 2009. Bremerhaven is not only one of the most lucrative real estate locations, but also a hi-tech development center, where over 15,000 jobs have appeared over the past 18 years.
The city has developed the construction and maintenance of offshore wind turbines. The leading wind industry hardware suppliers and 5 R & D organizations have already established and/ or expanded their operations here.
The Port is the 5th largest in Europe and the continent’s largest for frozen foods and ship-based vehicle import & export.
