Apartment building with commercial units.
The building with an elevator includes 15 apartments and 2 commercial units.
The apartements sizes span between 30 m² and 58 m².
The total area of the apartments is 726 m².
The total area of the commercial units is 147 m².
The building has 5 full storeys as well as a besement floor and an attic floor.
There are 3 above-ground garages in the territory of the property.
A garage is currently free of charge available to the tenants as a bicycle storage room.
The property overall is in a generally good and orderly condition with minor optical conspicuities only.
The house is currently heated by a central oil heating system. The changeover to the central gas heating is scheduled for 2018 as a part of heat contracting.
The water and sewage pipes have already been renovated in the 90s.
In 2009, both commercial units were completely modernized.
In 2015, the flat situated on the attic floor was fully renewed with a new bathroom and a new wiring.
Type of transaction: Asset Deal or Share Deal.
Absolute annual income is 58,367 €.
The current yield of 6.9%.
Financial performance at currently admissible rent increase:
Projected annual income will be 61,500 €.
The projected yield of 7,3%.
Notary (state registration) is 1.5 – 2%.
Acquisition tax is 5%.
The brokerage fee is 5.95%.
The apartment building is located in a popular area in the city center of Bremerhaven, in a walking distance from the pedestrian area.
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.