The annual net rent (= cold rent) is € 154.361,04. Based on a purchase price of EUR 2.75 million, the net rental income is approx. 5.6%. See also information on necessary renovations and / or refurbishments in the property.
In the last 10 years, rental income has been consistently maintained on a stable to slightly rising trend. The oldest lease contract dates back to 1977; the commercial lease agreement to 1987. There are no cancellations. The current house administration has the object very well under control. In the past 10 years, approximately 200,000 EUR have already been invested into the property.
There is a walking and driving right for the neighboring building to get to their own garages and their backyard.
The equipment of the apartments is kept at a medium level. The property is well maintained. Necessary repairs were carried out as needed.
The object is located at the beginning of the district of Oberrad, coming from Sachsenhausen. The front house is aligned to the main street Offenbacher Landstraße, the rear house is located at the Oberrader gardens where the herbs for the world famous Frankfurter Green Sauce are being produced.
The connection to the public transport network is optimal. Tram stop is in front of the house, lines 15, 16 and 18 run. In 20 minutes at Frankfurt Central Station. Change to the S-Bahn (S 1,2,8,9) at the stop Mühlberg. At the Südbahnhof all public transport is available in all directions.
Over the last 10 years, the following refurbishment measures have been done: The façade of the rear building is heat-insulated and newly plastered on the courtyard side and to the neighbor. The heating in the rear house got a new burner. Several apartments have been renovated or modernized. The roof of commercial building has been restored. Due to water pressure problems pipes were renewed in the rear building since they were lime-cured. A garage roof had to be refurbished, the rest are now tight.
What is still pending according to the house manager is the following: 1. The kitchens in the apartments are partly worn and would have to be renewed with a new tenant. Some of the hot water boilers are no longer contemporary. 2. The bathrooms are partly in good condition, partly less good. Also here are partly still old boiler for hot water exchange. 3. The stairwells could be painted once and the floor coverings occasionally renewed (defective plates in the PVC) 4. The court gate should either be renewed or completely removed The garden side of the rear building, including the gutter and balconies, should be insulated and renovated.
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