AllGrund Ltd. | HRB 50527 AG Offenbach
Immanuel-Kant-Str. 35 | 63303 Dreieich
Tel.: 06103 310847 | Fax: 06103 8073755
Email: service@allgrund.com Homepage: www.allgrund.com
3 rooms, 2 Loggias, 122m², 4th floor, lift
ZIP Code:
60318
City or town:
Frankfurt am Main
Federal country:
Hessen
Asking Price:
€ 429,500.00
Comment on purchase price:
Price lowered significantly!
Price per sqm living or other space:
€ 3,520.00
Parking possibility:
Underground car park
Asking price for parking areas:
€ 25,000.00
Brokerage commission to be paid by buyer incl. VAT (% of notarized purchase price):
5.95 %
Commission payable by:
Buyer
Note on the commission:
The buyer pays at the conclusion of the notarial deed a commission in the amount of 5.95% of the authenticated purchase price.
Size of Landplot:
3,504.00 m²
In a nutshell:
Top Nordend location; to modernize but in this location absolutely worthwhile
Year of construction:
1973
Detailed description of the object:
This apartment is located in a building complex of high-rise architecture of the seventies, with swimming pool, sauna, underground parking. It is located on the 4th floor, has two loggias, two bedrooms, a living room, a hallway, kitchen, the hall, cloakroom, guest bathroom and bathroom.
Features:
The bedrooms have their own hallway and the master bedroom has its own loggia. This also has a practical storage room.
Parking options:
Parking in underground garage
Comments regarding parking situation:
The apartment has a parking space on the upper level of the underground car park; the driveway is in Schwarzburgstraße.
Type and age of windows:
Plastic double glazing, renewed just a few years ago
Year of essential refurbishment of the special property (apartment):
2017
Kind and extent of refurbishments:
The community of owners has already seen to a number of refurbishments and modernizations, including the swimming pool, and the renovation of the balconies in 2016-2017. See the protocols for more information. The necessary special contributions have been paid. The work has been completed.
Other data to the property:
The location is unique. Everything for daily needs is available within walking distance.
Kitchen built in:
Yes
Notes regarding built-in kitchen:
it is old
Type of energy performance certificate:
Residential building consumption certificate
Residential Building - Final Energy Value:
188.00 kW/m²a
Main energy source:
Natural gas
Year of Construction of the heat generator according to EPC:
2010
Energy consumption for hot water included:
included
Year of system installation comment:
The central heating system was renewed by a few years.
Date of Energy Performance Certificate:
5 Feb. 2009
Type of heating and warm water preparation:
Gas
More options on heating:
The two boilers of the heating as well as the control were renewed in 2009/2010.
Age of heating system (approx):
8 years
Billing for heating and hot water:
The billing is done by an external company.
Description of location:
The location is absolutely great. Nordendstraße is one of the best residential areas in Frankfurt, where prices have skyrocketed in the last 10 years. In four minutes you are in Holzhausenpark. The underground line 5 stops 100m away. The Deutsche Bibliothek can be reached in 5 minutes; the Bürgerhospital as well. Eckenheimer Landstraße, located around the corner, offers supermarkets, restaurants, pizzerias, cafes, small shops; in the immediate vicinity are Schwarzburgschule (elementary school), Musterschule, the University of Applied Sciences, numerous kindergartens. The Holzhausen Park and the Glauburgsquare always invite one with their recreational values and playgrounds as well as occasional events or parties.
City district:
Nordend-West
Public transport connection:
With the underground line 5 you are in a few minutes on the pulse of the international business world, which is represented in Frankfurt.
Connection to traffic routes by car:
By car, you are quickly on the highway 66 or 661. The airport Rhein-Main International is about 20 minutes drive.
General noise level of location:
Medium
Supplement to noise level:
The apartment is quiet.
Child friendliness of the location:
The Nordend is the most popular district of families and very child-friendly designed.
Development of bicycle routes:
In Northrend numerous bike paths are developed.
Type of Condo:
Apartment
In which floor (groundfloor=0):
4
Total number of floors with GF and possibly DG:
8
Approx. living area:
122.00 m²
Source or reference to the floor space information:
The living space was determined on the basis of the submitted floor plan.
Owner used:
Yes
Rented out (details):
No
Number of rooms (German counting):
4.00
Number of bedrooms:
2
Number of bathrooms:
1
Guest WC (powder room):
1
Height of rooms (in m):
2.50 m
Balcony, Terrace, Loggia:
Yes, 2
Co-ownership shares:
164/10.000 MEA
Share of property on the land in %:
1.64 %
Monthly housing fee:
€ 829.00
Note:
A total of € 410 of the monthly home allowance is earmarked for maintenance reserve account and repairs.
In case of renting out payable amount by tenant:
€ 330.00
Source of these informations:
Business plan 2019
(More) Informations on maintenance reserve fund:
In 2017, almost 1 million € (966.238,69) was withdrawn from the reserve for necessary refurbishment measures in and around the building. Further repairs concern the modernization of the lifts which are estimated at about 100.000,- €. The flat is sharing 1.64% of all costs of the common property.
Renovations to be done in the flat:
Comprehensive modernization or renovation is recommended
Special use rights:
1 parking space in underground garage (no dupex parking!)
Number of units in the block:
45
Further hint regarding other than apartment units:
The property consists of three blocks of buildings. The total property comprises 111 units, of which 6 are commercial units.
General information on the renting situation:
The apartment is not rented. It has been used since construction by the owners themselves.
Land tax:
€ 629.76
Heating cost:
€ 1,300.00
Comment to the cost positions:
The bills for the year 2016 and 2017 as well as the business plan 2019 are available and can be made available. Moreover, according to the recent settlements there was a larger repayment to the owner.
According to the owners' decision of September 2018, the reserve is to be filled to a minimum level sufficient for ongoing repairs and future major maintenance measures. Therefore, the annual payment to the maintenance reserve for € 250,000 was set by majority vote.
It should be noted that there are three buildings in common, two underground garages and a total of 111 units in the three buildings.
This apartment accounts for a share of 1.64%, ie 4.100, - € per year or 341.67 € per month.
In addition, a repair reserve for ongoing repairs of € 80,000 per year has been agreed, which means a monthly proportional payment of € 109.33.
Disabled accessible:
Yes
Stepless access:
Yes
Status at handover:
vacant
Available as of:
immediately
Registered public encumbrances?:
There are no building charges (Baulasten) (according to online information)
What is the outstanding feature of this property:
The location is the salient feature of the property.
Comment:
The purchase price was determined as follows: According to the real estate market report of the City of Frankfurt in 2018, buildings of the years of construction 1950-1974 in the land registry district 21 (like this object) have an average purchase price of € 4,680 per m² of living space. That sums up to a purchase price of 571,000, - € for this object. Depending on the personal expectations, the modernization costs of the apartment are between 80 and 120 TEUR. This deducted reduces the purchase price to max. 450,000, - €.
Additional to this, the payment to the maintenance reserve of currently € 4,100 per year will be subsided by the seller for the time periof of five years by a further discount of € 20,500.
Thus, a market-oriented purchase price of 429,500, - € is calculated for this apartment, which corresponds to a purchase price of 3,520, - € per m² of living space. This is a discount on the average purchase price of 25%.
It is pointed out that the land value in this exclusive residential area is at 4.300, - € per sqm land (Bodenrichtwertkarte Frankfurt) from 1.1.2018; compared to 1.1.2016 it was 2.400, - € per m². (2014 = 1.800, - €, 2012 = 1.600, - €, 2010 = 1.500, - €) It is unlikely that this trend will go downhill in this location. An investment in a property in this location is well spent, whether for self-use or for renting of the apartment.
Appointments for viewings:
At any time possible, as the apartment is not inhabited
General Terms and Conditions
The property has been proven by AllGrund Immobilien GmbH Dreieich. Upon conclusion of the purchase contract, the brokerage fee, which the buyer pays to AllGrund, amounts to {courage} of the purchase price incl. VAT, due and earned with the notarial purchase contract. Subject to prior sale or letting. All information without guarantee, errors excepted. Contracts and brokerage contracts are concluded according to German law.
Right of withdrawal: The undersigned hereby confirms that he/she may withdraw from the brokerage contract within 14 days of the conclusion of the contract by email, fax or letter without stating reasons. However, the service of the broker shall be deemed to have been claimed and fulfilled if the undersigned, waiving his right of withdrawal, requests the conclusion of a purchase contract before the expiry of the 14 days. Notwithstanding the foregoing, the above-mentioned commission shall be payable to the broker only and in any case upon conclusion of a purchase contract. No further costs shall be incurred either in the event of revocation of the brokerage agreement or in the event of failure to conclude a purchase agreement for this property. The same applies in the case of a rental agreement.
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Right of withdrawal / cancellation policy
Please note the following important information for you as a consumer regarding your right of revocation!
You have contacted us as an estate agent and would like to rent or buy a property (house, flat etc.) offered by us. By doing so, you are entering into a brokerage contract according to the law. This does not necessarily have to be concluded in written form, but can also be done by so-called conclusive behaviour. You give us the order to arrange a property for you, to show it to you, or to inform you of the address or to establish contact with the seller or landlord. As soon as we have given you this information, we are generally entitled to commission. (It is like in any other business - you want a service and we as a service provider have earned a fee for it, if the service has been rendered completely - or if necessary also partially).
In the following we explain your right of withdrawal according to § 355ff. BGB
We will be happy to answer any further questions you may have. Please note that these explanations refer exclusively to your right of revocation of the brokerage contract, but not to rental or purchase contracts. You as the client may revoke your contractual declaration as described above vis-à-vis the estate agent within 14 days of the conclusion of the contract without stating any reasons (e.g. by letter, fax, e-mail). The time of the conclusion of the contract is generally considered to be the time when you commission the estate agent to send you details of the offered property or to act on your behalf (e.g. viewing appointment, sending of an exposé or further information, forwarding of the address, rental contract, purchase contract etc.). In any case, the receipt of this revocation instruction in paper form is the latest point in time at which the 14-day revocation period begins.
In order to comply with the revocation period it is sufficient to send the revocation in due time by letter to AllGrund Immobilien GmbH, Immanuel-Kant-Straße 35, 63303 Dreieich or by fax to 06103/8073755 or by e-mail to service@allgrund.com or SMS to 0151-58703200. Sending the revocation to us on the last day of the revocation period is deemed to be in due time. If you send us your cancellation by email, we recommend that you use a second means of communication, preferably by fax, as emails can sometimes end up in automatic spam filters over which we have little control. You are also welcome to call us to make sure that we have received your cancellation. However, you cannot revoke orally. After proper revocation, any payments already made by you to us must be returned to you as the client without delay, at the latest within fourteen days of receipt of the revocation by us. No fee will be charged to you as principal for this return of payments. The return of the payments shall be made in the same way as the payment was made by you.
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Order for the provision of services before the end of the cancellation period
If you wish to commission us to provide a service before the expiry of this 14-day revocation period (e.g. viewing, naming an address, sending detailed documents, naming landlord or seller), you thereby declare to us that you have been informed of this and agree that your right of revocation thereby expires.
If you have nevertheless already received services from us by the time you exercise your right of revocation in due time, you thereby declare that, in the event of a revocation of this conclusion of the contract, you shall pay a customary, reasonable remuneration for the services rendered up to the time of revocation, which remuneration shall correspond to the share of the services already rendered in the total scope of the contractually agreed services. If the proof of the opportunity to conclude a contract or for the mediation of a contract has been provided, this shall correspond to the total scope of our services. Other services rendered up to that point (viewings, consultations relating to the purchase or rental, etc.) are to be remunerated by you, if applicable, in an appropriate and customary manner in accordance with the broker's effort, insofar as the entire service has not yet been rendered in full.
Expiry of the right of withdrawal through complete performance of the service
You, as the client, are hereby notified that your fourteen-day right of cancellation set out above will expire once we have fully and properly provided the contracted services.
Please note:
The law requires us to provide you with this cancellation notice for each property brokered by us. There is no possibility to declare a general waiver of this requirement. Therefore, if you are requested to sign this confirmation again at each viewing, this is solely due to the legal regulations to which we are bound. If an exposé states that you, as a potential tenant or buyer, do not have to pay any commission (for example, because the agent is remunerated by the landlord or seller or, if applicable, is offering a property from his own property), the right of withdrawal does not apply.
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