Address of the Real Estate

60318

Frankfurt

Nordend

Hessen

760000

Purchase Price and Realtor Commission

€ 446,000.00

€ 6,371.00

5.80 %

Half by buyer and half by seller

Seller and buyer each pay 2.5% plus VAT. when concluding a sales contract. The basis is the certified purchase price. The value added tax is 16% until December 31, 2020, and 19% again from January 1, 21.

Description of property

Top location apartment with 3 rooms, kitchen, bathroom and balcony, good tenancy

1965

Classic 1960s building with 23 apartments and 1 restaurant.

Classic style apartment: living-dining room, kitchen, balcony, two bedrooms and a bathroom. Everything redone in 2013. 4th floor, new elevator, rented to a couple since 2016.

Laminate floor, new bathroom with white tiles, tub with partition for shower function, washer-dryer in the bathroom, fitted kitchen, south-facing balcony

Windows are plastic windows with double glazing from the 1990s.

2013

Floor renewed, bathroom completely renovated and renewed, electrics partially renewed, walls newly wallpapered and painted

No parking space, but residential parking area

no

no

no

no

Yes

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 at Oederweg; central, all shops within walking distance. Or go to work by bike (bikes can be parked in the lockable bike room, which is in the courtyard and is quite large). 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.

Plenty and almost everything within walking distance, except hardware store. Beverage market in front of the door.

Condominium: Specific data (I)

Apartment

4

5

70.37 m²

Architect's plans and calculations from 2007

3.00

2

1

1 south-facing balcony

Condominium: Specific data (II)

41/1000 MEA

4.10 %

€ 356.00

€ 82.00

€ 200.00

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 4.1% stake, in the amount of approx. € 56,000 will be serviced with part of the payment for the maintenance reserve.

23

1 commercial (catering)

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 flat is rented. The current tenancy has been in existence since July 1st, 2016.

€ 946.59

After the modernization of the heating system and the renewal of the elevator, the rent was increased by € 26.59 from € 920 and has been paid in this amount since February 1, 2019. The annual (cold) rent is 11,359.08 euros. The return (basic rent at purchase price without additional purchase costs) is 2.53%. According to the rental agreement, an adjustment according to the consumer price index is possible. (Accordingly, the basic rent can be adjusted to € 993.92 at this point in time.) The return is then 3%.

Running costs and taxes ect

€ 359.61

Photos