Apartment building, Duisburg, Germany

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Apartment building, Duisburg, Germany

7,200,000 €
755 € /m²
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  • Total area
    9,530 m²
  • Yield
    6.5%
  • Built in 
    1971
Details
Property parameters
  • Land area: 10,880 m²
  • Total apartments: 176
  • Number of parking lots: 62
  • 11-floor building
Financial performance
  • Annual income: 469,541 €
Tenants
  • Occupancy: 89 %
Transaction costs
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.5%
  • Broker: 4.0% + VAT

2 apartment buildings in Duisburg.

Description

Two 11-storey residential buildings with parking.

The property includes:

  • 176 apartments (with balcony or loggia)
  • 62 underground parking spaces

Both buildings consist mainly of 2-bedroom apartments with an area of ​​48.8 m², 52.6 m², 53.3 m² and 62 m².

Over the past 2 years about 2 million euros have been spent on repairing the condominium.

Equipment

  • central heating
  • fire protection

Currently 20 vacant apartments are being renovated step by step (approximately 2 per week).

A full condo rental is planned in the 2nd half of 2018.

Financial performance

The absolute annual income is 469,541 €.

The current yield is 6,5%.

The projected absolute annual income is 600,931 €.

The projected yield of 8,4%.

Transaction costs

Notary (state registration) is 1,5 – 2%.

Acquisition tax is 6,5%.

Brokerage fee is 4% + VAT 19% (total 4,76%).

Location

The property is located in one of the districts of Duisburg.

Duisburg is the city in western Germany near Düsseldorf. The population of the city is more than 500,000 people.

There are well developed ferrous metallurgy, machine building, production of building materials in the city. The headquarters of the company Tisser-Krupp is located in the city. Duisburg is the largest river port in Europe.

The condominium is located in the area with a well-developed infrastructure. There is a pedestrian shopping street, supermarkets, a weekly market, a swimming pool, kindergartens, primary and secondary schools, restaurants, pubs and cafes here.

There is an easy access to the A 4 and A 57 motorways for motorists. You can reach the center of Duisburg in 30 minutes by public transport.

Every year in August the famous Fountain Festival takes place here.

  • Property on the map
    Location right down to the building, street or city

Tranio helps to manage property after purchase

Our local team at Tranio in Germany will take up property management or recommend professional German partners.

The terms and conditions of our engagement depend on the condition and location of the property and are to be discussed in each particular case.

Find out more
  • icon Property maintenance and insurance
  • icon Search for tenants, contracting, and control over rent collection
  • icon Arrangements for bookkeeping and tax advice

Сonstruction loan as an alternative to commercial property investment

Developers with a good track record that give warranties or procure a record in the land register.

There is no need to incorporate a legal entity or open an account in Germany.

No extra charges to maintain or operate the property.

Comparing a apartment building purchase with a construction loan

Investment vehicle
Apartment building
Construction loan
Yield per annum
6.5%
8—10%
Investment budget
7,200,000 €
from 300,000 €
Buying expenses
10—15%?
  • 1 – 1,5 % — lawyer
  • 2,3 – 3,2 % — notary and state registration
  • 3,5 % – 6,5 % — acquisition tax
  • 3-6% + VAT — broker's fee

Percentage of the property value

0—2%?

The expenses on an independent legal review of the project

Investment term
from 5 years
to 3 years
Risk level
Low
Moderate
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