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Apartment house in Prague and the possibility of redevelopment

1,444,000 €
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Total area: 980 m² Yield: 8.0%
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Features
  • Absolute return: 115,520 €
  • Land area: 489 m²
  • 2-floor building
  • Percentage of the rented area: 100%
  • Loan size: 21% of the value of the object
  • Rate: 4.0%
  • Loan term: 15 years
  • Total apartments: 2
  • Redevelopment

It is a two-storey apartment house in Prague 2.

Description

The total area is 980 m². The house needs cosmetic repair.

Plot of 489 m².

Currently, the house has two 7-room apartments.

All spaces are leased out.

Redevelopment

There is a project of reconstruction of the house.

According to the plan two 7-room apartments can be rearranged into 14 studio apartments with an area of 12 m² each, and 3 commercial premises of 79 m², 103 m² and 205 m².

There is also the possibility to construct another floor, which will accomodate another 4 studios.

Financial performance

Absolute income is 115,520 €.

The current yield of 8%.

Loan

It is possible to take a loan of 300,000 € for 15 years at a rate 4% per annum for the reconstruction purposes.

Location

The house is located just 800 meters away from the historic center of Prague.

The surrounding area offers many attractions listed in the list of UNESCO World Heritage sites, as well as parks, castles, historical monuments, shops, restaurants, pubs and cafes.

There is a metro station and public transport in walking distance from the property.

More properties

If this property wasn’t for you, take a look at other apartment buildings for sale in the Czech Republic.

You can see more apartment buildings for sale in Prague elsewhere on our website.

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Julia Morozova
Julia Morozova
Senior Investment Consultant
+44 20 3608 1267
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