ZIP Code: 60489
City or town: Frankfurt am Main
City district: Rödelheim
Federal country: Hessen
Number of residents (approx.): 750.000
Asking Price: € 595,000.00
Comment on purchase price: Price does not include the plot of land because it has heritable building rights
Price per sqm living or other space: € 2,621.00
Parking possibility: There are two garages on the property, which is included in the purchase price
Brokerage commission incl. VAT (% of notarized purchase price): 5.80 %
Commission payable by: Buyer
Note on the commission: The buyer pays at the conclusion of the notarial deed a commission in the amount of 5.80% of the authenticated purchase price.
In a nutshell:
Heritable building right remaining term 39 years, annual lease rent € 2,992; with full letting approx. € 27,000 annual net rent income
Year of construction: 1962
Detailed description of the object:
Three-family house with two full storeys, developed attic. Ground floor and top floor rented, 1st floor free and renovated. Partly insulated (on the weather side).
The ground floor and first floor were completely renovated in 2014 and 2015 (new surfaces, ceilings, walls, floors, new electrics, new radiators, insulated radiator niches, new water and sewage pipes, a new bathroom by merging the old bathroom and toilet, a new one Storage room was also created in this way.
The heating system was renewed in 2019, the loft, the basement ceiling and the north facade were insulated as insulation measures. The chimney head was renewed in 2018, the garage roofs in 2016.
Type of energy performance certificate: Residential building consumption certificate
Residential Building - Final Energy Value: 198 kW/m²*a
Main energy source: Natural gas
Year of construction of building according to EPC: 1964
Energy consumption for hot water included: included
Energy efficiency class: F (< 200)
Year of Construction of the Heating System according to EPC: 1985
Date of Energy Performance Certificate: 14 Aug. 2018
Freehold or Leasehold: Leasehold
Type of Land plot: Inner city
Size of Landplot: 562.00 m²
Description of location:
The house is located in a quiet side street of Rödelheim. Local supply centers are easy to reach. Brentano-Bad, Rewe, Aldi etc. are also within walking distance. The Nidda is only a few hundred meters away.
Public transport connection:
Rödelheim train station with S 3, S 4, S 5 is only about ten minutes away. From there also city buses in different directions.
General noise level of location: Quiet
MFH Number of residential floors total: 3
Living area: 227.00 m²
Type of construction: Solid
Number of flats (apartments) in building: 3
Number of flats (apartments) per full size storey: 1
Attic storey developed: yes
Basement (cellar area): Full cellar
Heatable living or usage rooms in basement: no
Number of full sized storeys: 2
General information on the renting situation:
Ground floor tenant € 780 cold rent for 83 sqm, + € 50 for a garage. Unchanged since rental began on November 1st, 2014.
One of the two original tenants in the attic has been in the apartment since 1.1.2000. With a new lease, the apartment was taken over to one of the original tenants on March 1, 2014, but now in a shared apartment with another tenant. According to the rental agreement, the basic rent is € 460; since 1.1.2020 increased to 500, - € cold. From January 1st, 2022, it will be increased to € 530. The garage was rented for € 50.
The apartment on the 1st floor is free.
The annual net rent can be increased to € 26,880 when renting the 1st floor at the same conditions as the ground floor. After deducting the annual ground rent, this means a return of 4% on the purchase price!
What is the outstanding feature of this property: Good return, solid property, beautiful location - the perfect combination for an investor. And personal use is also possible.
Comment: You will receive all information about the leasehold contract and the house as part of an individual viewing appointment. The two rented apartments cannot be shown on the first visit.
Note regarding the photos: The photos only show the 1st floor (the free apartment). Pictures of the rented apartment cannot be shown for reasons of confidentiality.