Apartment building, North Rhine-Westphalia, Germany

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Apartment building, North Rhine-Westphalia, Germany

3,500,000 €
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Total area: 2,965 m² Yield: 7.1% Built in 1929
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Features
  • Operating Incomе: 248,587 €
  • Land area: 3,000 m²
  • 6-floor building
  • Occupancy: 100%
  • Number of parking lots: 50
  • Most recent total renovation: 2010
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.5%
  • Broker: 4.0%
  • Total apartments: 35

A historical apartment building with a commercial unit on the ground floor.

Description

The property consists of 35 apartments with a total living area of 2.208 m² and one commercial premise of 757 m². 

The property also includes a plot of 3.000 m² and 50 parking spaces.

The house was built in 1929 and it is in excellent technical condition.

During the last major repairs in 2010, almost everything was renovated, except for bearing walls, roofs, and windows.

Financial performance

Absolute annual income is 248,587 €.

The current yield of 7,1%.

Tenants

All apartments are long-time rented.

The commercial premises are rented by a branch of the post office. 

22 parking lots near the house are rented to dwellers.

Transaction costs

Notary (state registration) is 1.5 – 2%.

Acquisition tax is 6,5%.

The brokerage fee is 4% + 19% VAT (in total 4.76%). 

Location

The property is located in a city with a population of more than 80 thousand people, in the central historical district of the city.

This city is located in the north-east of the federal state of North Rhine-Westphalia, in 45 km northeast of Bielefeld. The town has preserved numerous buildings in the style of the Weser Renaissance, as well as a cathedral of the XII century — the architectural symbol of the town.

In a walking distance, there are the sights of the town, museums, embankment and bridge across the river, an old market square with numerous shops and restaurants, administrative central buildings of the town. There is the railway station in 2 km from the building.

Due to this favorable location, apartments for rent are in high demand.

Statistics in Germany

Price per m², €
4,906
Healthcare efficiency level
74
Index 74 from 100

The index reflects how respondents rank the overall level of healthcare quality, professionalism of medical staff, quality of equipment, cost of services, etc.

Safely rate
66
Index 66 from 100

When evaluating the crime level, Numbeo survey respondents (local residents) have shared their expectations of how safe would a lone walk in the part be for them during the day and night.

Real estate Price, €
Apartment in the city centre, m² 4,905.7
Apartment in a bedroom community, m² 3,386.31
Transport Price, €
Public transport, 1 ride 2.7
Monthly travel card 70.0
Taxi, 1 km 2.0
Petrol, 1 l 1.4
Food Price, €
Water, 1.5 l 0.34
Milk, 1 l 0.7
White bread, 500 g 1.3
Eggs, a dozen 1.82
Chicken fillet, 1 kg 7.31
Education Price, €
Kindergarten, per month 307.85
International school, per year 14,680.58
Health care index
Staff competence 77.5
Medical equipment 89.46
Research accuracy and completeness 75.69
Attitude towards patients 68.71
Security index
Crime rate 34.23
The risk of being robbed 32.28
The risk of car theft 31.75
The risk of break-in and property damage 42.98

The data is provided by numbeo.com and based on the answers of its users.
Tranio does not guarantee its reliability.

Show the entire statistics

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If this property wasn’t for you, take a look at other apartment buildings for sale in Germany.

You can see more apartment buildings for sale in North Rhine-Westphalia elsewhere on our website.

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Artem Ezhkov
Artem Ezhkov
Investment Consultant
+44 17 4822 0039
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