AllGrund Ltd. | HRB 50527 AG Offenbach
Immanuel-Kant-Str. 35 | 63303 Dreieich
Tel.: 06103 310847 | Fax: 06103 8073755
Email: service@allgrund.com Homepage: www.allgrund.com
2 ZKBB, 57m², built in 1965, renovated in 2019
ZIP Code:
60318
City or town:
Frankfurt
Number of residents whole community:
750000
Federal country:
Hessen
Asking Price:
€ 359,000.00
Price per sqm living or other space:
€ 6,300.00
Parking possibility:
Residential parking
Brokerage commission to be paid by buyer 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.
Type of Land plot:
Inner city
Size of Landplot:
946.00 m²
Quality of living area:
Upscale location
Does the property have oversize or is it additionally buildable:
No
In a nutshell:
First-class investment with good rentability in the very best Nordend location
Year of construction:
1965
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.
Parking options:
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.
Type and age of windows:
The windows are from the 90s.
Year of essential refurbishment of the special property (apartment):
2019
Kind and extent of 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.
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.
Kitchen built in:
Yes
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:
191.00 kW/m²a
Main energy source:
Natural gas
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:
1965
Year of Construction of the heat generator according to EPC:
1965 und 1969
Energy consumption for hot water included:
not included
Energy efficiency class:
F (< 200)
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.
Type of heating and warm water preparation:
Gas
More options on heating:
Conversion to natural gas in 2019
Age of heating system (approx):
1 years
Air condition:
No
Special electrical installations:
Electrics in the apartment renewed. Not throughout the house.
Security installations:
No
Billing for heating and hot water:
By reading company via property management
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.
City district:
Nordend
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:
Medium
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.
Shopping facilities:
Plenty and almost everything within walking distance, except hardware store. Beverage market in front of the door.
Type of Condo:
Apartment
In which floor (groundfloor=0):
3
Total number of floors with GF and possibly DG:
4
Approx. living area:
57.00 m²
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):
2.00
Number of bedrooms:
1
Number of bathrooms:
1
Guest WC (powder room):
nein
Balcony, Terrace, Loggia:
South-facing balcony
Co-ownership shares:
33/1.000tel MEA
Share of property on the land in %:
3.30 %
Monthly housing fee:
€ 299.00
How much (in EUR) of maintenance fund payment already included in housing fee:
€ 66.00
In case of renting out payable amount by tenant:
€ 154.00
Source of these informations:
Economic plan
(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:
none
Number of units in the block:
23
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
Condition:
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.
Planned actions:
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:
€ 880.00
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:
yes
How much vacancy:
none
Land tax:
€ 291.60
Disabled accessible:
No
Barrier free?:
Nein
Stepless access:
No
What is the outstanding feature of this property:
The location here is simply unbeatable!
Comment:
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.
General Terms and Conditions
The property has been proven by AllGrund Immobilien GmbH Dreieich. Upon conclusion of the purchase contract, the brokerage fee, which the buyer pays to AllGrund, amounts to {courage} of the purchase price incl. VAT, due and earned with the notarial purchase contract. Subject to prior sale or letting. All information without guarantee, errors excepted. Contracts and brokerage contracts are concluded according to German law.
Right of withdrawal: The undersigned hereby confirms that he/she may withdraw from the brokerage contract within 14 days of the conclusion of the contract by email, fax or letter without stating reasons. However, the service of the broker shall be deemed to have been claimed and fulfilled if the undersigned, waiving his right of withdrawal, requests the conclusion of a purchase contract before the expiry of the 14 days. Notwithstanding the foregoing, the above-mentioned commission shall be payable to the broker only and in any case upon conclusion of a purchase contract. No further costs shall be incurred either in the event of revocation of the brokerage agreement or in the event of failure to conclude a purchase agreement for this property. The same applies in the case of a rental agreement.
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Right of withdrawal / cancellation policy
Please note the following important information for you as a consumer regarding your right of revocation!
You have contacted us as an estate agent and would like to rent or buy a property (house, flat etc.) offered by us. By doing so, you are entering into a brokerage contract according to the law. This does not necessarily have to be concluded in written form, but can also be done by so-called conclusive behaviour. You give us the order to arrange a property for you, to show it to you, or to inform you of the address or to establish contact with the seller or landlord. As soon as we have given you this information, we are generally entitled to commission. (It is like in any other business - you want a service and we as a service provider have earned a fee for it, if the service has been rendered completely - or if necessary also partially).
In the following we explain your right of withdrawal according to § 355ff. BGB
We will be happy to answer any further questions you may have. 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 revoke your contractual declaration as described above vis-à-vis the estate agent within 14 days of the conclusion of the contract without stating any reasons (e.g. by letter, fax, e-mail). The time of the conclusion of the contract is generally considered to be the time when you commission the estate agent to send you details of the offered property or to act on your behalf (e.g. viewing appointment, sending of an exposé or further information, forwarding of the address, rental contract, purchase contract etc.). In any case, the receipt of this revocation instruction in paper form is the latest point in time at which the 14-day revocation period begins.
In order to comply with the revocation period it is sufficient to send the revocation in due time by letter to AllGrund Immobilien GmbH, Immanuel-Kant-Straße 35, 63303 Dreieich or by fax to 06103/8073755 or by e-mail to service@allgrund.com or SMS to 0151-58703200. Sending the revocation to us on the last day of the revocation period is deemed to be in due time. If you send us your cancellation by email, we recommend that you use a second means of communication, preferably by fax, as emails can sometimes end up in automatic spam filters over which we have little control. You are also welcome to call us to make sure that we have received your cancellation. However, you cannot revoke orally. After proper revocation, any payments already made by you to us must be returned to you as the client without delay, at the latest within fourteen days of receipt of the revocation by us. No fee will be charged to you as principal for this return of payments. The return of the payments shall be made in the same way as the payment was made by you.
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Order for the provision of services before the end of the cancellation period
If you wish to commission us to provide a service before the expiry of this 14-day revocation period (e.g. viewing, naming an address, sending detailed documents, naming landlord or seller), you thereby declare to us that you have been informed of this and agree that your right of revocation thereby expires.
If you have nevertheless already received services from us by the time you exercise your right of revocation in due time, you thereby declare that, in the event of a revocation of this conclusion of the contract, you shall pay a customary, reasonable remuneration for the services rendered up to the time of revocation, which remuneration shall correspond to the share of the services already rendered in the total scope of the contractually agreed services. If the proof of the opportunity to conclude a contract or for the mediation of a contract has been provided, this shall correspond to the total scope of our services. Other services rendered up to that point (viewings, consultations relating to the purchase or rental, etc.) are to be remunerated by you, if applicable, in an appropriate and customary manner in accordance with the broker's effort, insofar as the entire service has not yet been rendered in full.
Expiry of the right of withdrawal through complete performance of the service
You, as the client, are hereby notified that your fourteen-day right of cancellation set out above will expire once we have fully and properly provided the contracted services.
Please note:
The law requires us to provide you with this cancellation notice for each property brokered by us. There is no possibility to declare a general waiver of this requirement. Therefore, if you are requested to sign this confirmation again at each viewing, this is solely due to the legal regulations to which we are bound. If an exposé states that you, as a potential tenant or buyer, do not have to pay any commission (for example, because the agent is remunerated by the landlord or seller or, if applicable, is offering a property from his own property), the right of withdrawal does not apply.
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