Apartment building, Gelsenkirchen, Germany

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Apartment building, Gelsenkirchen, Germany

890,000 €
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Total area: 891 m² Yield: 6.5% Built in 1958
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Features
  • Operating Incomе: 57,450 €
  • Land area: 285 m²
  • 5-floor building
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.5%
  • Broker: 4.0%

Five-storey apartment building with a commercial unit on the ground floor.

Description

The building was built in 1958 and now is in good condition.

The apartment building consists of a commercial unit on the ground floor and 10 apartments ranging from 36 to 86 m ².

The commercial unit and 7 apartments are leased out.

The windows were partly renewed in the building. 

Equipment

  • balconies 
  • bathrooms with windows
  • gas heating system
  • basement storage rooms 

Financial performance

Absolute annual income is 57,450 €.

The current yield is 6,5%.

Financial performance when all premises are leased out:

Expected absolute annual income is 71,280 €.

Expected yield is 8,0%.

Transaction costs

Notary fee is 1.5 – 2%.

Acquisition tax is 6,5%.

The broker's fee is 4% + 19% VAT (in total 4.76%).

Location

The apartment building is located on a shopping street in Gelsenkirchen in North Rhine-Westphalia. There are a few shops, cafes, restaurant and a bus stop near the building. 

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Sofia Bulanova
Sofia Bulanova
Investment Consultant
+44 17 4822 0039
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