AllGrund Property ID: 201394

Object Address
PLZ-ZIP Code: 
60598
City: 
Frankfurt
Part of City: 
Sachsenhausen
Country: 
Germany
Vital data
In a nutshell: 
Multi-family house, currently an object with five units, one of which is owner-occupied and four are rented for a limited time (since furnished). According to submitted documents approx. 405m² living space. Very good location in upscale residential area in Sachsenhausen. The owner-occupied attic will be vacant after the sale.
Living space in sqm (Info): 
405.00m²
Type of Investment Property: 
Block residential
Year of construction (Info): 
Approx. 1960, refurbished and expanded 1989-1990
Condition: 
good general condition
Status at handover: 
partly rented
Further information on the net rental income: 

At the moment, a flat rent of € 5,210 is paid per month, ie € 62,520, - per year. Approximately 20% of this is to be deducted for operating costs, which are included and are not billed. This results in an approximate value of EUR 50,000.00. The attic apartment is not included here, as it is being occupied by the owner. According to our estimate, this can be estimated at approx. 1300-1400 € per m² cold rent per month.

It is an extremely charming apartment with a large south-facing terrace; In addition, an elevator can be installed in the already prepared shaft, which increases the possible rent even further.

Asking price (Euro): 
1.750.000€
Asking price (Euro): 
Offers are welcome
Brokerage fee incl. VAT (% of notarized purchase price): 
5.95%
Payable by: 
Buyer
Available as of: 
negotiable
Energy Performance Certificate (EPC)
Date of Energy Performance Certificate: 
4.5.2015
Type of energy performance certificate: 
Residential building consumption certificate
Residential Building - Final Energy Value: 
171.80 kWh/(m²?a)
Energy consumption for hot water: 
included
Main energy source: 
Natural gas
Year of Construction of the Heating System: 
2002
Year of Construction Comment: 
2002 refers to the boiler that is being used to heat the ground floor and first floor and supply it with hot waterr. The second boiler, which supplies the top floor and the Soutterrain apartment, is from approx. 1990.
Energy efficiency class: 
F (<200)
Detailed Information
Size of Landplot: 
873.00m²
Other space size: 
84.00m²
Freehold or Leasehold?: 
Freehold
Detailed description of property incl equipment: 

The building was originally built in the 1960s, acquired in 1986 by the owner and rebuilt and modernized in the years between 1988 and 1990. The house consists of two full floors and the converted attic. The attic is being used by the owner and will be vacant after the sale.

At the time of the conversion, the elevator was already planned for the attic floor and the necessary structural elements were prepared.

The house originally consisted of three apartments: ground floor, upper floor and attic.

In the reconstruction phase the large ground floor apartment was split in two apartments, one small and one large. The first floor remained one large apartment.

The old roof was removed and instead a completely new roof with a height of 0.90 m and a ridge height of 3.40 m was erected. The floor height (without flooring) to the ceiling is 3,10m on the ground floor and 2,90m on the upper floor.

In the basement, an apartment with its own exterior entrance was built from two basement areas; Size approx. 40m². (No exact size available, reference was derived from the original cellar plans)

The attic has a separate entrance in the back-mounted "turret". This is also prepared for an elevator, which would then serve the attic floor only.

The owner has rented the apartments fully furnished. The rental income is composed as follows (all flat-rate)

Basement about 40m²: 600 €

Ground floor ca 28m²: 790 €

Ground floor ca 88m²: 1660 €

1st floor ca 121m²: 2160 €

attic ca 128m²: owner-occupied

(Residential area sizes are according to documents from building application and owner)

The following apartments will be vacant:

Ground floor small: end of Jan. 2017

Ground floor large: June 2018

1st floor: Autumn 2017

Attic: upon sale

All leases are terminable on both sides with a three-month notice period. (All details provided by owner).

All apartments have been renovated to a high standard in 1990: the windows have been renovated, the radiators have been renewed, the bathrooms have been renewed and the kitchens have been renewed and fitted with fitted kitchens. Two heating circuits were produced; One for the attic and souterrain and one for the apartments on the ground floor and the upper floor. The heating for the latter was renewed about 15 years ago, the heating for the attic and souterrain is from approx. 1989.

In the attic flat there is partial underfloor heating.

Margin (annual net rent : purchase price): 
4 %
Price per sqm: 
4321 €
Description of location: 

Very nice location at the Sachsenhausen hill, surrounded by a lot of greenery. Recently, a new "tegut" supermarket has opened and is located within a few minutes walk. Further shopping possibilities in about 5 minutes by car or also by bus to reach.

Connection to traffic routes / public transport: 

Bus stop Suedfriedhof (South cemetery) is about five minutes away; South Train station (Suedbahnhof) about 10-15 minutes.

Number of Units in Building: 
5
Renovations done in the building: 

In 1989-1990 core renovation and new construction was done of the attic as a "house on top of the house" in excellent execution. Cork heat insulation on rafters, therefore open beams in the attic.

Type of heating and warm water preparation: 
Gas
More options on heating: 
Central heating system
Partly underfloor heating
Parking options: 
Parking place outside
Parking options: 
Single garage
Other information or specialties: 

Due to the steeper and therefore higher approach angles of the landing airplanes, the noise in this location has improved significantly.

This statement has been confirmed by a number of residents of the Sachsenhausen-South location. In fact, during our stays in the building, we had almost no airborne noise during the busy evening hours.

Which is the most characteristic feature of this property: 
A real hit for investors or part-owner occupiers ...
About reason for sale: 
Reduction

 


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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