Best Nordend: 2 bedroom apartment in Nordendstraße

Address of the Real Estate

ZIP Code: 60318

City or town: Frankfurt am Main

Purchase Price and Realtor Commission

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 %

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.

Land plot data

Size of Landplot: 3,504.00 m²

Description of property

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.

Comments regarding parking situation:
The apartment has a parking space on the upper level of the underground car park; the driveway is in Schwarzburgstraße.

Other information (population etc.)

Federal country: Hessen

More property information

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.

Notes regarding built-in kitchen: it is old

Description of location

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.

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.

Energy Performance Certificate (EPC) Data

Final energy value: 188.00 kWh/m²a

Date of Energy Performance Certificate: 5 Feb. 2009

Year of Construction of the heat generator according to EPC: 2010

Year of system installation comment: The central heating system was renewed by a few years.

Further technical details

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.

Condominium: Specific data (I)

In which floor (groundfloor=0) (German counting): 4

Total number of floors with ground floor and possibly top floor: 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

Condominium: Specific data (II)

Co-ownership shares: 164/10.000 MEA

Share of property on the land in %: 1.64 %

Monthly housing fee: € 829.00

(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.

Note: A total of € 410 of the monthly home allowance is earmarked for maintenance reserve account and repairs.

Allocable to the tenant when letting (excluding property tax and CO-2 share): € 330.00

Source of these informations: Business plan 2019

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.

Rental situation

General information on the renting situation: The apartment is not rented. It has been used since construction by the owners themselves.

Information on barrier-free access, etc.

Disabled accessible: Yes

Stepless access: Yes

Other vital Data

External links

Link recommendations:

Nordend Frankfurt on the Website of City Frankfurt am Main

Nordend Frankfurt auf Wikipedia

Final notes

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

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