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Apartment building under construction in Frankfurt with a 4,7% yield

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Apartment building under construction in Frankfurt with a 4,7% yield

25,000,000 €
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Total area: 3,289 m² Yield: 4.7%
  • Absolute return: 1,184,000 €
  • Land area: 853 m²
  • Year of construction: 2017
  • Renter: 100%
  • Number of parking lots: 18
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.0%
  • Broker: 3.6%
  • Total apartments: 70
  • Development

It is and apartment house being built in the capital of Hesse.

Description

The total building area is 3,289 m².

The plot of 953 m².

The property is expected to be finished in January 2017.

The house will accomodate 70 apartments ranging from 40 to 54 m² and a small cafe area of 77 m². Each apartment will have loggia and full equipment.

There will be 18 parking places.

The property is already fully leased out.

Financial performance

Absolute income is 1,184,000 €.

The current yield of 4,7%.

Tenants

The tenant is a managing operator.

The lease agreement is signed for 10 years from the date of commission.

The proeprty may be purchased without a tenant for an additional €2,5 million.

Transaction costs

Notary fee of 1,5%.

RE purchase tax of 6%.

The broker's fee of 3,57%.

Location

The property is situated on the banks of the Main, not far from the central bank branch.

Shops, restaurants and a hospital are within the walking distance.

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Sofiya Bulanova
Sofiya Bulanova
Real Estate Expert Tranio in Frankfurt am Main
+44 20 3608 1267
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