ZIP Code: 60318
City or town: Frankfurt am Main
City district: Nordend
Federal country: Hessen
Asking Price: € 260,000.00
Price per sqm living or other space: € 4,561.00
Brokerage commission 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.
In a nutshell:
Great location, good investment
Year of construction: 1965
Size of Landplot: 947.00 m²
Detailed description of the object:
Two-room apartment with south-facing balcony in the best Nordendlage in Mittelweg, extensively renovated in 2016, new bathroom, new floors; good laminate, bright tiles. 2nd floor, elevator.
The apartment has a large living room, kitchen, inside bathroom, hallway, south balcony.
The building has a swimming pool, which is currently not in use. Renovation is planned, but not yet decided.
The building has a total of 26 units. The building is from 1965 and has a flat roof. This was completely renovated a few years ago. Due to the pool this apartment has no cellar room.
Laminate, iso-glass windows, shutters, new bathroom with tub, washing machine connection, large mirror cabinet, Lift
Year of essential refurbishment (Kernsanierung): 2016
Kind and extent of refurbishments: Bathroom was renewed, floor covering was renewed, apartment was repainted
Public residential parking with pass
Comments regarding parking situation:
The apartment has no parking space.
Description of location:
Best location in the central Nordend
Public transport connection: To subway station Grüneburgweg it is about five minutes. Bus in Oederweg around the corner. The city center (Hauptwache) is about a ten-minute walk.
General noise level of location: Medium
Supplement to noise level:
The Mittelweg itself is not a loud backdrop. The restaurant is alive in the sunny season due to the outdoor terrace.
Date of Energy Performance Certificate: 11 Jan. 2018
Type of energy performance certificate: Residential building consumption certificate
Residential Building - Final Energy Value: 191,1 kW/m²*a
Energy consumption for hot water included: not included
Main energy source: Natural gas
Year of Construction of the Heating System: 1965
Year of Construction Comment: The spa will be renewed this year
Energy efficiency class: F (< 200)
Other info concerning Energy Performance Certificate: The warm water is generated by electric water heater.
Approx. living area: 56.43 m²
Source or reference to the floor space information: In the division declaration, the plans and the floor area calculations are available. This is from 2007.
Owner used: no
Rented out (details):
The tenant is in the apartment since July 2017. He would like to rent for a few more years. There are no rent arrears and no other problems in the tenancy.
Type of Condo: Apartment
Co-ownership shares: 33/1000 MEA
Share of property on the land in %: 3.30 %
Monthly housing fee: € 272.00
How much (in EUR) of sinking fund payment already included in housing fee: € 66.00
In case of renting out: Payable amount by tenant: € 143.00
Source of these informations: Business plan 2018
Sinking fund amount approx.: € 120,753.72
Reserve fund amount is per: 31.12.2017
(More) informations on maintenance reserve fund: The share of the apartment in the maintenance reserve amounted to € 3,984.88 as of 31.12.2017
Number of rooms (German counting): 2.00
Number of bathrooms: 1
Height of rooms (in m): 2.50 m
In which floor (groundfloor=0): 2
Kitchen built in: Yes
Notes regarding built-in kitchen: No new kitchen
Renovations to be done in the flat:
no current ones
Balcony, Terrace, Loggia: Yes
Number of flats in the block: 24
Further hint regarding other than apartment units: Restaurant
Do extensions or outbuildings exist: There is a storage room for bicycles.
General information on the renting situation: A lease has been concluded without time limit. The rental payments are reliable. Very nice tenant.
Current net rent per month: € 750.00
Further information on the net rental income:
Graduated rent is agreed, increase by 25 € every three years
Annual land tax: € 288.84
Margin in % (annual net rent : purchase price): 3,5 %
Freehold or Leasehold: Freehold
Renovations done in the building:
In 2014, the flat roof was completely renovated (costs about 150,000, - €). This flat roof renovation is complete.
Renovations to be done in the building:
Modernization of heaters; for this there is a decision of the owner community to exchange them in August 2018. The financing is from the reserve.
Furthermore, the balcony renovation is scheduled for 2018 in autumn and 2019 in autumn. Again, a large part of the financing is provided from the reserve. See the protocol.
Estimated cost for this: 160000
Other information or specialties:
The swimming pool is shut down as long as the ventilation system has not been renewed. This was first reset, because first the heating must be renewed, which will happen this August. In connection with the ventilation, the electrical system must probably be renewed there.
What is the outstanding feature of this property:
The absolute top location
Appointments for viewings: 7.7. between 10 and 12 o