AllGrund Property ID: 201406

Object Address
PLZ-ZIP Code: 
60599
City: 
Frankfurt
Part of City: 
Oberrad
District: 
Hessen
Country: 
Germany
Vital data
In a nutshell: 
Investment in good Frankfurt Oberrad location: Two buildings on a plot of 663sqm. A commercial unit in the front building and 23 apartments in the front and rear house as well as five garages. All units are rented, the tenants are partly already very long in the property. The front house was renovated in the 90s, the rear house in individual sections from 2008 (for example, a new façade to the courtyard and adjacent side). All pipes were renewed then and made of high quality steel. Some apartments or apartments are equipped with fitted kitchen.
Living space in sqm (Info): 
846.81m²
Type of Investment Property: 
Block mix residential and commercial
Year of construction (Info): 
ca. 1961-1962 Vorder- und Hinterhaus
Condition: 
good general condition
Status at handover: 
rented
Current net rent per month: 
12669.42€
Further information on the net rental income: 

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.

Asking price (Euro): 
2.700.000€
Brokerage fee incl. VAT (% of notarized purchase price): 
5.95%
Payable by: 
Buyer
Energy Performance Certificate (EPC)
Date of Energy Performance Certificate: 
19.5.2008
Type of energy performance certificate: 
Residential building consumption certificate
Residential Building - Final Energy Value: 
104.60 kWh/(m²?a)
Energy consumption for hot water: 
not included
Main energy source: 
Natural gas
Year of Construction Comment: 
There is no information on the exact year of heating system engineering. In the front house about 15 years ago the heating was renewed, in the rear house in 2008 the burner was renewed.
Other info concerning Energy Performance Certificate: 
The above information is for the front house. The rear house has its own energy certificate with a demand of 160.5 kWh / (m²a).
Detailed Information
Size of Landplot: 
663.00m²
Commercial space: 
163.00m²
Freehold or Leasehold?: 
Freehold
Detailed description of property incl equipment: 

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.

Price per sqm: 
2755 €
Description of location: 

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.

Connection to traffic routes / public transport: 

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.

Renovations done in the building: 

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.

Renovations to be done in the building: 

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.

Type of heating and warm water preparation: 
Gas
More options on heating: 
Central heating system
Parking options: 
Single garage
Comments regarding parking situation: 
There are five individual garages.
Which is the most characteristic feature of this property: 
A solid return on investment in good Oberrad location
About reason for sale: 
Asset restructurings

 


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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