Apartment building with microapartments near the city center.
Description
The property includes:
- residential areas (19 microapartments), 300 m²
- office in the basement, 50 m²
- non-residential areas (hallways), 50 m²
Facilities:
- Central heating system
- Cable TV
Certificate of energy consumption:
- Consumption value: 111 kWh/ m²
- Valid until: 04/01/2025
The property is currently being renovated.
The end of works is due to 2020 spring-summer.
Type of deal: Asset Deal.
Annual rental income (after utility payments, annual property tax and insurance) — 134,000 €.
The yield is 5.3%.
Fully let.
Notary (state registration): 1.5 – 2%.
Acquisition tax: 5%.
Brokerage fee: 5% + VAT 19% (total 5.95%).
The property is located near the city center, in the old and the largest district of the city.
The local landmarks include the eclectic palace complex and zoological and botanical garden, the festival square and the stadium of the football club.
There are restaurants, cafes, a bar, pharmacies, shops, a wellness center and car parks nearby.
Stuttgart is the administrative center of Baden-Württemberg, one of the most important industrial and cultural centers of Germany. With the population of more than 630 thousand people, it is the 6th largest city in Germany.
The city with its agglomeration (5.3 million people) is one of 20 metropolitan areas with the largest percentage of gross domestic product in Europe.
The city is home to large companies such as Mercedes-Benz, Siemens, Porsche, Bosch. The median income is higher than the national average one, and the unemployment rate is only 3.3%.
Stuttgart is an important transport hub of Germany with an international airport (capacity of 11.8 million) and a railway station (traffic flow of 220k per day).
Stuttgart is considered to be one of the largest innovation centers in Europe and has the highest level of prosperity among all cities in Germany. The high level of livability and the income rate explain the stable demand for microapartments in Stuttgart.
