An apartment building with a commercial unit on the ground floor in Mülheim.
Description
A 3-story corner building.
The property includes:
- 14 apartments (35-50 m²)
- 1 commercial unit (320 m²)
- 5 parking places
Project type: added value (purchase for the purpose of repair with the subsequent lease for a higher price).
The project will last for 5–6 years.
The basic model is the creation with the investor a joint venture, in which the management company has a stake.
An alternative option could be a contract for the management of the property with a share of the MC in future profits from the sale of a developed property.
The absolute annual income is 52,173€.
The current yield is 6,7%.
Notary (state registration) is 1,5 – 2%.
Acquisition tax is 6,5%.
Brokerage fee is 6% + VAT 19% (total 7,14%).
The apartment building is located near the station in a residential area of the city of Mülheim an der Ruhr (North Rhine-Westphalia).
The population of the city is more than 170,000 people.
Mülheim is situated between Düsseldorf, Essen and Duisburg. Dusseldorf Airport is about 20 minutes drive.
The headquarters of the companies Aldi Süd, Tengelman Group (a trading holding), Max-Planck Research Institute, production of steam turbines of the company Siemens AG are located in the city.
