Apartment building in one of the best areas of Frankfurt am Main.
Description
The apartment building has 5 apartments, including a penthouse, and a commercial space. The owner lives in the penthouse (moves at the sale).
The building was renovated in 2016 and equipped using high quality materials:
- roof terrace
- jacuzzi
- 9 balconies
- LED lamps
- parquet
- fitted wardrobes
The absolute annual income is 92,400 €.
The current yield is 2,3%.
(Potential for rent increase by renting out a penthouse)
The commercial space is leased to a pizzeria.
The lease agreement was concluded in 2017 for 5 years. Rental income is about € 30,000.
Notary (state registration) is 1,5 – 2%.
Acquisition tax is 6%.
Brokerage fee is 5% + VAT 19% (total 5,95%).
The property is located in Frankfurt am Main, in one of the best areas of the city, Westend.
Frankfurt am Main is the largest city in the land of Hessen and the 5th largest city in Germany. Its population is more than 730,000 people. The city is developing rapidly, the population growth is also constantly observed here.
Frankfurt is the center of commerce, culture, education, tourism and a transport hub. Frankfurt is the 2nd city in Germany and the 48th in the world in terms of the cost of living (Mercer Human Resource Consulting).
There are about 43,000 companies in Frankfurt. The city is the site of many global and European corporations: Nestlé Deutschland, LinkedIn, Kern AG, Lufthansa Consulting. Messe Frankfurt — the 3rd largest international exhibition center in the world, has more than 800-year history. Annually Messe Frankfurt holds more than 100 exhibitions around the world.
Frankfurt International Airport is among the 10 largest in the world, its passenger traffic is more than 54 million people a year.
There are the world's largest educational institutions in Frankfurt, including the world-famous Goethe University with more than 44,000 students (2018).
