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.
