Package of three blocks of apartment buildings, three buildings per each.
Description
The complex includes 116 apartments with a total rental area of 8,545 m².
The buildings were constructed in 1972, from 2016 to 2019 major repairs were carried out, including roofs, heating, plumbing, entrance doors to the buildings with mailbox systems, entrance doors to the apartments, floors, stairwells, etc. The cladding of the buildings is made of natural slate.
Total number of parking lots – 71:
- 24 underground parking lots
- 47 outdoor parking lots
Net annual income (fully let) is about 528,000 €.
The yield is 4.5%.
The property is located in the federal state of North Rhine-Westphalia, in a city with a population of more than 50 thousand people. The unemployment rate is 4.6%.
The property is located in a residential area of the city, near the park and kindergarten.
The city plays an important economic role in the manufacturing industry, as large manufacturing enterprises are located there. The industry is mainly represented by electrical, machine-building companies, as well as metal production and paper processing factories.
Cologne is about 50 km away.
North Rhine-Westphalia is the land of the Federal Republic of Germany with a population of 17.5 million people (the most populated of the German lands). It ranks 4th in Germany in terms of area.
22% of Germany’s GDP comes from NRW. The main industry in NRW is engineering and equipment manufacturing, biotechnology, chemical industry, and etc.
North Rhine-Westphalia is the center of trade in Germany, because it houses the headquarters of several leading German trading concerns with the largest turnover, for example, Deutsche Telekom AG, ALDI NORD, Die Deutsche Post, Bayer, Lufthansa Group, REWE. DE.
