Address of the Real Estate

63067

Offenbach

City

Hessen

Purchase Price and Realtor Commission

€ 209,000.00

Seller

The brokerage commission pays the seller. There is no commission for the buyer.

Description of property

Same leasehold owner since 1952, reliable partner. Safe return. Top opportunity where banks no longer pay interest!

1953

The leasehold land is sold, not the leasehold right. The hereditary building right remains with the owner of the right. The property was built around 1953 with a 10-family house. Since then, the building has been operated and maintained by the leaseholder. For the land owner this means a secure source of revenue for the next 32 years. With the end of the heritable building right in 2051, it is possible to renew the hereditary lease agreement with the same operator and to agree on a new leasehold rent, appropriate for the then determined land value; or - if renewal by the leaseholder is not desired - to indemnify and redeem the building for two-thirds of the market value (which will then be determined). For the duration of the leasehold, the annual rent is reviewed annually and adjusted if necessary. The adjustment of the annual lease fee is set out in the lease agreement. Since 1952, the annual rent of 296.55 € (580 DM in 1952)) rose to (2019) 4.123,44 € per year. That's an increase of 1,530 percent! You cannot invest your money more safely. The return in 2019 is a bit under 2%. No bank gives you such safe money these days! In the event of default on the annual lease charge, the so-called "home-use clause" comes into force, according to which the building is to be reimbursed by the property owner for two-thirds of the market value and is thus taken over. At the same time, the land values increase, without having to do any maintenance on the building, having to deal with tenants or having to claim rent losses.
The building itself has been extensively modernized by the leaseholder in recent years, including thermal insulation composite system and new windows, balcony renovation, roof renovation, individual modernization in the apartments, which were renewed when tenants were moving out, i.e bathrooms, electrical systems and doors.

Land plot data

307.00 m²

€ 670

1 Jan. 2018

Undeveloped property - specific data

307

Living

Yes, all statutes can be viewed on the internet (see link further below)

Yes

The property is leased by a leasehold since 1952, for 99 years

Land ready to build on

Description of location

The property is located in an excellent Offenbach city center location, near the S-Bahn station Leather Museum. Quiet side street.

Energy Performance Certificate (EPC) Data

13 Dec. 2018

Residential building consumption certificate

65,8 kW/m²*a

B (< 75)

included

District heating

1953

The energy pass does not cocern the property sold here, but is given here purely for information about the energy performance of the building located thereon. The building does not become the property of the buyer of the land!

Further information about the object

It is also interesting to relate the currently booming urban development in Offenbach.
Here is a good link:
"https://www.offenbach.de/leben-in-of/planen-bauen-wohnen/aktuelle_Projekte_stadtentwicklung/index.php"
While in Frankfurt the prices shoot through the clouds and the urban development reaches its limits (because the land prices have become prohibitive with land values of 4.000 € to 40.000 € per m²)
The market in Offenbach is still booming at the "normal" level of investors, from the buyer of a two-room apartment to the investor who can build and sell on fallow land without having to demand illusory prices.
Very lively and typical of the colorful city life of Offenbach is the Wilhelmsplatz and its weekly markets, especially on Saturday mornings, so that one can highly recommend a visit on a Saturday.
Obviously, Offenbach is a city with a high proportion of immigrants, but it faces up to this task and creates conditions in which people of all backgrounds and education can live side by side and with each other.

Photos