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House ownership for sale on Gertrudes street

2,700,000 €
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Total area: 3,800 m²
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  • Land area: 1,127 m²

For sale is offered a house ownership on Gertrudes street — Center of Riga. The property consists of 3,300 m² and additionally mansard floor of 500 m² and land — 1127 m². Total size of apartments 2,200 m² and 450 m² — offices.

The house is fully leased and has stable income (all lease agreements are signed for 1 year).

The property is in good tehnical conndition (the roof is changed, the facade is renewed).

There are 31 apartments and 3 commercial premises in the building.

Income from the apartments is around 7,500 euro per month (average 3 eur per m²).

Income from the offices is 2,300 eur per month.

Property and Land tax 20,000 euro per year.

ROI at the moment is around 6%.

After property renovation icome might be sucesfully increased, as 3 euro per m² is quite low number for the real estate in such location.

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Anna Kurianovich
Anna Kurianovich
Investment Consultant
+44 17 4822 0039
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    • Bank financing from 4.8% annually
    • Construction site audits
    • Management company services