Apartment building, Bremerhaven, Bremen, Germany

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Apartment building, Bremerhaven, Bremen, Germany

2,025,000 €
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Total area: 3,067 m² Yield: 5.3% Built in 1950
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Features
  • Operating Incomе: 106,671 €
  • Land area: 1,263 m²
  • 6-floor building
  • Occupancy: 77%
  • Notary (state registration): 1.5%
  • Acquisition tax: 5.0%
  • Broker: 6.0%

Apartment building with commercial units.

Description

The building includes 36 apartments and 3 commercial units.

The apartment sizes span between 51 m² and 110 m².

The commercial units sizes span between 75 m² and 252 m².

There is a basement floor and an attic floor in the building.

During the last three years, 3 apartments have been completely renovated. The landlord actually will renovate the vacant flats, convert an office into residential units and he will renovate the 3 staircases and the rear facades. He actually estimates the investment overall of an amount of 200,000 €.

The central gas heating system was installed in 1985–2013.

The Energy Demand Certificate is valid until 28.04.2024.

The energy consumption parameters:

Entrance 1a:

  • final energy consumption is 179.3 kWh/m²a
  • primary energy consumption is 201.2 kWh/m²a

Entrance 1b:

  • final energy consumption is 151.5 kWh/m²a
  • primary energy consumption is 171.7 kWh/m²a

Entrance 1c:

  • final energy consumption is 192.2 kWh/m²a
  • primary energy consumption is 217.1 kWh/m²a

8 apartments and 1 commercial unit are not rented for the moment. The seller ensures a full occupancy on delivery to the purchaser.

Type of transaction: Asset Deal or Share Deal.

Financial performance

Absolute annual income is 106,671 €.

The current yield of 5.3%.

Financial performance on the condition that units are rented:

Projected annual income is 146,637 €.

The projected yield of 7.2%.

Financial performance at currently admissible rent increase:

Projected annual income is 160,000 €.

The projected yield of 7,9%.

Transaction costs

Notary (state registration) is 1.5 – 2%.

Acquisition tax is 5%.

The brokerage fee is 5.95%.

The cost of ownership

The monthly gross management fee per unit is 24.95 €.

Location

The apartment building is located in the center of Bremerhaven in the immediate vicinity from the pedestrian area. Schools, kindergardens and supermarkets are situated in a walking distance 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.

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Julia Morozova
Julia Morozova
Senior Investment Consultant
+44 17 4822 0039
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