AllGrund Ltd. | HRB 50527 AG Offenbach
Immanuel-Kant-Str. 35 | 63303 Dreieich
Tel.: 06103 310847 | Fax: 06103 8073755
Email: email@example.com Homepage: www.allgrund.com
2 ZKBB, 57m², built in 1965, renovated in 2019
City or town:
Number of residents (approx.):
Price per sqm living or other space:
Brokerage commission incl. VAT (% of notarized purchase price):
Commission payable by:
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:
First-class investment with good rentability in the very best Nordend location
Year of construction:
Comment regarding year of building:
Classic 1960s building with 23 apartments and 1 restaurant.
Detailed description of the object:
This newly renovated two-room apartment is on the 3rd floor of a 5-story apartment block. It has a large living room with an open kitchen, with a new kitchenette that belongs to the apartment; a new bathroom, bedroom, high-quality laminate (Logoclic). The electrics were renewed. The balconies were all renovated in 2018/2019. The heating was renewed and switched to gas. The elevator was also renewed in 2019.
Type and age of windows:
The windows are from the 90s.
Year of essential refurbishment of the special property (apartment):
Kind and extent of these refurbishments:
A total of around € 30,000 was completely modernized. Measured in terms of the living space, this is around 500 € / m². In addition, a kitchenette was installed.
Public residential parking with pass
Comments regarding parking situation:
Are you already living or are you still parking? You don't live here to park. You live here so you don't have to maintain a car. Bicycles and public transport are fully sufficient, and for excursions there are plenty of rental companies where you can rent a car. But it is also possible by car - thanks to the resident parking permit.
Other data to the property:
The community of owners is very active and committed and has gradually brought this 60s property up to date over the past 10-12 years. All of this now benefits a buyer.
Does the property have oversize or is it additionally buildable:
Kitchen built in:
Notes regarding built-in kitchen:
The kitchen was purchased by the current owner in 2019. It makes renting a lot easier.
Type of energy performance certificate:
Residential building consumption certificate
Residential Building - Final Energy Value:
Main energy source:
Main Energy Source - Other:
The energy pass was issued before the heating was renewed and the conversion to natural gas.
Year of construction of building according to EPC:
Energy consumption for hot water included:
Energy efficiency class:
F (< 200)
Year of Construction of the Heating System according to EPC:
1965 und 1969
Year of system installation comment:
Originally there were 2 boilers in the house because of the swimming pool. When the boiler was renewed in 2019, only one boiler was installed, with condensing technology and based on natural gas. Due to technical obsolescence, the swimming pool has been closed for years and will not be for the foreseeable future either.
Date of Energy Performance Certificate:
11 Jan. 2018
Other info concerning Energy Performance Certificate:
Due to the renewal of the heating system AFTER the energy certificate, the value of the energy consumption should decrease significantly. A new consumption certificate can be issued no earlier than three full calendar years after the boiler has been installed.
Freehold or Leasehold:
Type of Land plot:
Size of Landplot:
Quality of living area:
Description of location:
One of the best locations that Frankfurt has. It's not just "Nordend", it's Mittelweg on Oederweg; central, all shops within walking distance. Or go to work by bike (bikes can be parked in the lockable bike room, which is quite large in the courtyard). Not a location for drivers. Car sharing is popular whenever you need it.
Public transport connection:
U-Bahn 1,2,3,8 can be reached in five minutes; S-Bahn Eschenheimer Turm in just ten minutes. Bus drives through Oederweg, bus stop around the corner.
Connection to traffic routes by car:
20 minutes to Frankfurt Airport
General noise level of location:
Supplement to noise level:
The restaurant is well maintained, not a disruptive factor as several tenants from the house assured us.
Development of bicycle routes:
The reduction of the street width in favor of cycling lanes has created a lot of space for cyclists.
Plenty and almost everything within walking distance, except hardware store. Beverage market in front of the door.
Type of heating and warm water preparation:
More options on heating:
Conversion to natural gas in 2019
Age of heating system (approx):
Special electrical installations:
Electrics in the apartment renewed. Not throughout the house.
Billing for heating and hot water:
By reading company via property management
Type of Condo:
In which floor (groundfloor=0):
Total number of floors with GF and possibly DG:
Approx. living area:
Source or reference to the floor space information:
Declaration of division and plans can be handed over in full
Rented out (details):
Rented since September 1st, 2019
Number of rooms (German counting):
Number of bedrooms:
Number of bathrooms:
Guest WC (powder room):
Balcony, Terrace, Loggia:
Share of property on the land in %:
Monthly housing fee:
How much (in EUR) of sinking fund payment already included in housing fee:
In case of renting out payable amount by tenant:
Source of these informations:
Sinking fund amount approx.:
Reserve fund amount is per:
(More) informations on maintenance reserve fund:
Due to the high investments, the maintenance reserve can be replenished quickly; currently € 12,000 pa is being saved. And the existing loan from the community of owners, in which this apartment has a 3.3% stake, in the amount of approx. 56.000 €, ist being paid by the monthly rate.
Renovations to be done in the flat:
No! Everything freshly made. Windows and balcony doors not renewed. These are common property. Exchange at your own expense can be done with community approval if required.
Renovations done in the flat:
New floor, wall removed and kitchen open, balcony renovated, electrics and bathroom renewed, wallpaper and ceiling / wall paint renewed.
Special use rights:
Number of flats in the block:
Further hint regarding other than apartment units:
1 restaurant and 1 storage cellar. The swimming pool is shared but not in use. Interest in reactivation currently without a majority.
Massive or extensive refurbishments (year):
Flat roof renewed in 2014, total approx. € 175,000
Heating, elevator renewed in 2019, approx. € 120,000
Balcony renovations in 2018 and 2019, approx. € 150,000
Overall, the property is largely in very good condition. External wall insulation did not find a majority due to a lack of interest in profitability. Windows are from the 90s, a renewal has not yet been considered. Staircase on the ground floor sometimes somewhat influenced by restaurant employees who have to go from there to the kitchen cellar; here a resolution was passed to purify. See resolution collection. Otherwise, the best location and generally very good condition.
None at the moment. First refill the maintenance reserve.
Already decided actions?:
None known to us
Which cost decisions have been made into which a buyer would enter after buying?:
None apparent; please read minutes and resolutions that are available.
General information on the renting situation:
The return after deducting the monthly costs incurred by the owner is approx. 2.7%. Incidental purchase costs are not taken into account, the maintenance reserve is also not taken into account, as these are not costs, but savings for value-increasing measures.
Current net rent per month:
Further information on the net rental income:
Graduated rent with a 3-year increase cycle; see copy of the rental agreement, which will be made available if you are interested
Is the property fully rented out:
How much vacancy:
Annual land tax:
What is the outstanding feature of this property:
The location here is simply unbeatable!
An investment that is always easy to rent.
Appointments for viewings:
By arrangement with the tenants, only in daylight, only single appointments with a mask
Note regarding the photos:
The photos were taken after the renovation in 2019 and before the handover to the current tenants.
The offer was pointed out by AllGrund Immobilien GmbH. In case of purchase of the offer the commission to be paid by the buyer is 5.80% incl. VAT and is due with the notary contract. All information without guarantee. Interim rental or sale of the said object is up to agent or owner. All details without warranty, excepting error. Interim sale or rental to another party is a reserved right of the seller or agent. Any contracts and broker agreements are to be under German law.
Right of revocation: The undersigning confirms herewith, that he can withdraw the agency contract within a time frame of 14 days. This can be done by email, fax or letter or by phone call or in person and without giving reasons why. Fax: 06103/8073755; email: firstname.lastname@example.org, phone call: 06103/310847. However, the service of agent is considered to have been delivered and fulfilled, if the undersigning asks agent to arrange a rental contract, by waiving his right of revocation before the 14 days are over. Independently of this the undersigned has to pay an agency or brokers fee as outlined above only and in any case when signing a rental contract for the apartment viewed, There will be no extra fees or costs in case of revoking the agency contract nor in case of non-arrangement of a rental contract for this offer. Same is valid in case of a purchase contract.
Please note the following important information to you as a consumer to your right of withdrawal!
You have contacted us as a broker and would like to rent or buy one of our real estate (house, apartment, etc.). With this you enter a brokerage contract by law. This need not necessarily be completed in writing, but can also be done by so-called conclusive behavior. You give us the order to convey you a property, to show it, or to tell you the address or to make contact with the seller or landlord. As soon as this information has been provided to you by us, our commission claim is usually given. (It is like any other business too - you want a service and we as a service provider have earned a fee for it, if the service has been provided in full - or possibly even partially.)
Below we explain your right of withdrawal according to § 355ff. BGB
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 cancel your above-mentioned contract with the broker within 14 days without Statements in text form (eg letter, fax, e-mail, phone call) revoked. The period begins after receipt of this instruction in writing, but not before conclusion of the contract.
The time of the conclusion of the contract is in general the commissioning of the broker, which you have received, to send you details about the property offered or to take action for you (for example, viewing, sending an expose or further information, forwarding the address, lease, purchase agreement, etc.). In any case, access to this cancellation policy shall be deemed to be the latest date on which the 14-day withdrawal period begins.
To meet the withdrawal period, the timely dispatch of the cancellation by letter to AllGrund Immobilien GmbH, Immanuel-Kant-Straße 35, 63303 Dreieich or by fax to 06103/8073755 or by e-mail to email@example.com or call us at 06103/310847. The sending of the revocation to us on the last day of the revocation period is deemed to be timely. When sending by email, we recommend the use of a second way of communicating, preferably by fax, as emails also land in automatic spam filters, on which we have little influence. You can also call us to make sure that the revocation has arrived. However, you cannot withdraw orally. After proper revocation, any payments already made by you to us must be returned to you as the customer immediately, at the latest within fourteen days from receipt of the revocation. You will not be charged a fee for this return of payments. The reimbursement of payments will be made in the same way as the payment was made by you.
Order to provide services before expiry of the withdrawal period
If you would like to commission us with a service before expiry of this 14-day withdrawal period (e.g. inspection of the property, naming of the address, sending detailed documents, name of landlord or seller), then you declare to us that you have been instructed and agree with it that your right of withdrawal expires with that request to begin service.
Should you have received services from us until the timely exercise of your right of revocation, you hereby declare that in the event of a revocation of this contract for the services provided until the revocation, you will have to pay a customary, fair remuneration commensurate with the proportion of the already provided services which corresponds to the total volume of the contracted services. If the proof of the opportunity to conclude a contract or for the negotiation of a contract is provided, this corresponds to the total extent of our service. Other services provided to date (visits, consultations relating to the purchase or rental, etc.) may be remunerated by you in an appropriate and customary manner according to the expenses of the broker, provided that the entire service has not yet been provided in full.
Expiry of the right of withdrawal by full provision of services
You, the client, are hereby notified that your above mentioned fortnightly right of revocation expires as soon as we have provided the contractually agreed services completely and properly.
The legislature requires us to receive this right of revocation for every property we provide. There is no way to explain a general abandonment. Therefore, if you are requested to sign this confirmation every time you visit, it is solely due to the legal regulations to which we are bound. If it is indicated in an Exposé that you as a potential tenant or buyer have to pay any commission (because the broker is for example paid by the landlord or seller or possibly offers a property of his own possession), the right of withdrawal does not apply.