Address of the Real Estate

60318

Frankfurt

Nordend

Hessen

750000

Purchase Price and Realtor Commission

€ 359,000.00

€ 6,300.00

Residential parking

5.80 %

Buyer

The buyer pays at the conclusion of the notarial deed a commission in the amount of 5.80% of the authenticated purchase price.

Description of property

First-class investment with good rentability in the very best Nordend location

1965

Classic 1960s building with 23 apartments and 1 restaurant.

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.

The windows are from the 90s.

2019

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

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.

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.

No

No

Nein

No

Yes

The kitchen was purchased by the current owner in 2019. It makes renting a lot easier.

Energy Performance Certificate (EPC) Data

Residential building consumption certificate

191 kW/m²*a

Natural gas

The energy pass was issued before the heating was renewed and the conversion to natural gas.

1965

not included

F (< 200)

1965 und 1969

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.

11 Jan. 2018

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.

Land plot data

Freehold

Inner city

946.00 m²

Upscale location

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.

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.

20 minutes to Frankfurt Airport

Medium

The restaurant is well maintained, not a disruptive factor as several tenants from the house assured us.

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.

Further technical details

Gas

Conversion to natural gas in 2019

1 years

No

Electrics in the apartment renewed. Not throughout the house.

No

By reading company via property management

Condominium: Specific data (I)

Apartment

3

4

57.00 m²

Declaration of division and plans can be handed over in full

Rented since September 1st, 2019

2.00

1

1

nein

South-facing balcony

Condominium: Specific data (II)

33/1.000tel MEA

3.30 %

€ 299.00

€ 66.00

€ 154.00

Economic plan

€ 310.54

31.12.2019

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.

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.

New floor, wall removed and kitchen open, balcony renovated, electrics and bathroom renewed, wallpaper and ceiling / wall paint renewed.

none

23

1 restaurant and 1 storage cellar. The swimming pool is shared but not in use. Interest in reactivation currently without a majority.

Information on community property

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.

None known to us

None apparent; please read minutes and resolutions that are available.

Rental 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.

€ 880.00

Graduated rent with a 3-year increase cycle; see copy of the rental agreement, which will be made available if you are interested

yes

none

Running costs and taxes ect

€ 291.60

Photos