AllGrund Property ID: 201245

Object Address
PLZ-ZIP Code: 
60318
City: 
Frankfurt
Part of City: 
Nordend
District: 
Hessen
Country: 
Germany
Vital data
In a nutshell: 
Strong location, good yield, perfect sizes of apartments for continuous letting. Old style building from turn of the century, with stucco facade. Residential and commercial mix inmidst of best Nordend Frankfurt, with front building and back house, eight apartments, two commercial tenants. One is a shop and one is office space. The total rental income per year is about 96.000 Euro, the object is in good condition, the rental area space is 615 sqm.
Other area space not defined as living area: 
615.00m²
Type of Investment Property: 
Block mix residential and commercial
Year of construction (Info): 
around 1900
Condition: 
good general condition
Status at handover: 
rented
Asking price (Euro): 
1.890.000€
Brokerage fee incl. VAT (% of notarized purchase price): 
5.95%
Payable by: 
Buyer
Available as of: 
immediately
Detailed Information
Size of Landplot: 
218.00m²
Commercial space: 
117.00m²
Other space size: 
503.00m²
Freehold or Leasehold?: 
Freehold
Detailed description of property incl equipment: 

Front building: This is a six-storey rental block with cellar, which was built around beginning of the 20th century in traditional fashion (walls with brick stones and sand stones). The building has a front lenght of about 9.20 meters and a depth of about 11.20 m with neighbouring buildings directly attached.

Back house: This building with four stories and cellar can be reached through a passway from the front building. The length is about 9.20 meters, the depth about 7.20 meters. The four story back house has three furnished apartments and one office unit. The furnished apartments are in modern business style, to match market demands and secure a higher rent.

Commercial tenants: In the ground floor of the front building is a shop which has a lease since 1997, in the back housee an office tenant since 1994.

Other: Front and back house have flats between 40 and 60 sqm. The backyard and passage way are with cement stone and drainage. There is no current repair backlog. The object is in good general condition and fully rented. The demand for apartments in that location is very high so that a minimum vacancy rate can be expected.

Margin (annual net rent : purchase price): 
5.2 %
Price per sqm: 
2790 €
Description of location: 

Excellent central location in Nordend, not far from subway station Glauburgstraße; from there one reaches the city center within five minutes. Residential parking. Near Holzhausen Park. All shops for daily needs can be reached in walking distance. Many lovely cafes, bars, restaurants and little shops form the image of the area. Nordend is one of the best and most sought-after locations in Frankfurt. Hi rental demand by young professionals.

Connection to traffic routes / public transport: 

Subway station about 100 meters away. With the bicyle which is the main transport form in Nordend you reach the inner city within a few minutes.

General noise level of location: 
Alive
Number of Units in Building: 
10
Renovations done in the building: 

Both buildings were modernized. Bathrooms, Gasboilers and modern insulating plastic frame windows were installed in the flats and the electrical and sanitary installations renewed.

Type of heating and warm water preparation: 
Gas
More options on heating: 
Single apartment boilers
Parking options: 
Public residential parking with pass
Comments regarding parking situation: 
Normal residential parking, common in Nordend.
Which is the most characteristic feature of this property: 
The central location in Nordend secures a good long term investment.

 


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Use the form below to contact us about this offer


The information you send us via this form is 100% encrypted using modern encryption standards.

If you have problems to send the form, just call us at +49 6103 310847 or +49 151 7272 9596