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Beautiful apartment building in Frankfurt-Nied
Three residential units, fully rented
Built 1910, 3 flats, 270m² living space, 123 m² add. space,net rent p. yr. € 28,512
Address of the Real Estate
ZIP Code: 65934
City or town: Frankfurt
Purchase Price and Realtor Commission
Asking Price: € 685,000.00
Comment on purchase price: At this purchase price, the current rent yields a return of 3.23%. (Formula: net cold rent x100 / net purchase price)
Price per sqm living or other space: € 2,500.00
Parking possibility: One Garage
Brokerage commission to be paid by buyer incl. VAT (% of notarized purchase price): 5.95 %
Total commission: 5.95 %
Commission payable by: Buyer
Note on the commission: The buyer pays at the conclusion of the notarial deed a commission in the amount of 5.95% of the authenticated purchase price.
Land plot data
Type of Land plot: Inner city
Size of Landplot: 228.00 m²
Description of property
In a nutshell:
Stable investment property with three well-rented apartments
Year of construction: 1910
Detailed description of the object:
Beautiful three-family house in a cozy corner of Nied, rented to reliable long-term tenants. All apartments have been adapted to modern technical standards.
Features:
The property includes a massive garage, a tool shed and a garden shed; garage and garden shed are also rented. The inner courtyard is the social centre of the three tenants and is maintained by them and planted very carefully in small beds or pots.
Parking options:
Single garage
Other information (population etc.)
Number of residents whole community: 760.000
More property information
Kind and extent of refurbishments:
2006 Renewal of gas boiler with storage tank
2008 New carpet laid on the staircase steps
2010 Conversion of roller shutters to electric
2011 Insulation of the top floor ceiling (attic) according to the legal requirements of EnEv
2011 Ground floor: Conversion of 7x roller shutters to electric with timers and hand-held transmitters
2011 2nd floor, renewal of the gas heating boiler
2013 1st floor, renewal of the gas heating boiler
2014 2nd floor, drywall for conversion into four-room apartment
2015 Repair work on gutter / cornice box
2016 1st floor renewal of all radiators in the flat
2017 2nd floor new GK ceiling, floor levelled, laminate laid, new tiles in WC, new flooring in kitchen, as well as cosmetic repairs
2017 Staircase: walls and ceiling, chamber doors newly painted
2019 Checking and renewal of all water taps and gas tap in the basement
2019 New window installed in the courtyard / laundry room
2019 Drywall Drywall to convert to four-bedroom apartment.
2019/2020 Comprehensive renovation of all electrical in the house
2020 Removal of rust from iron girders in basement and rust protection paint
2021 Repair of facade
2021 Yard gate: installation of new electric opener
2021 Sewer renovation according to recommendation of city drainage department
2021 Pipe trace heating repaired
2021 After renovation of supply duct, shaft cladding
Description of location
Description of location:
Popular middle-class location in Frankfurt-Nied, small shops, good neighbourhood, five minutes to the Nidda recreation area.
Nied is a district in the countryside. The attractive location between the Main and Nidda rivers and the walking distance to Frankfurt's green belt invite you to go on excursions and linger. There is even a "Nidda beach". Wonderful area for all cycling enthusiasts and for extensive walks. In the nearby town of Höchst you can dine wonderfully and enjoy the beer gardens in summer. Very nice open-air festivals also take place here in summer, e.g. the famous Höchst Castle Festival.
City district: Nied
Public transport connection:
S-Bahn station Nied can be reached on foot in three minutes. 7 minutes by S-Bahn to Frankfurt main station and 11 minutes to Hauptwache (City)
Connection to traffic routes by car:
10 minutes by car to the airport, doctors available in the district. Nearest clinic: Höchst 2.5 km/7 minutes by car, University Clinic Frankfurt 9.6 km/14 minutes by car. Motorway connection approx. 5 minutes
General noise level of location: Quiet
Child friendliness of the location: Playground on the Nidda five minutes away
Schools, kindergardens ect.: Elementary school about 15 minutes on foot, as well as KiTa
Shopping facilities: Supermarket within walking distance
Energy Performance Certificate (EPC) Data
Type of energy performance certificate: Residential building consumption certificate
Residential Building - Final Energy Value: 164.61 kWh/m²a
Primary energy demand: 181.07 kWh/m²a
Main energy source: Natural gas
Year of construction of building according to EPC: 1910
Year of Construction of the heat generator according to EPC: 2000
Energy consumption for hot water included: included
Energy efficiency class: F (< 200)
Year of system installation comment: The three thermal baths were built in different years, 2006, 2011, 2013
Date of Energy Performance Certificate: 28.11.2022
Multiple dwelling unit - specific data
MFH Number of residential floors total: 3
Living area: 270.41 m²
Usable areas (e.g. cellars, garages, adjoining rooms, etc.): 122.73 sqm
Source or notes for the area informations: New measurement from March 28th, 2022 by DSGV-certified surveyor
Type of construction: Solid, brick construction
Number of flats (apartments) in building: 3
Number of flats (apartments) per full size storey: 1
Attic storey developed: Mansard floor yes, attic no (was once, had to be dismantled)
Basement (cellar area): Full
Number of full sized storeys: 3
List of apartments: Ground floor: Three rooms, kitchen, bathroom with 88.65 m² living space
1st floor: Four rooms, kitchen, bathroom, with 90.73 m² living space
2nd floor (attic level): Four rooms, kitchen, bathroom, with 91,03 m² living space
Cellar with 90m² usable area
other usable floor space: 33 m²
plus two outbuildings and a garage, see photos
Rental situation
General information on the renting situation: Good tenant clientele, handle the house responsibly. Landlord can sleep peacefully and enjoy his investment.
Current net rent per month: € 2,151.00
Further information on the net rental income:
All rents can be adjusted by 15% within the limits.
Is the property fully rented out: Yes
Detailed rental schedule: Ground floor: 616,- € cold rent
1st floor: 755,- € cold rent
2nd floor: 720,- € cold rent
Garage (to the 2nd floor): 40,- € cold rent
storeroom (to the 1st floor): 20,- € cold rent
Total annual cold rent (net annual rent): 25.812,- €
Rents can be adjusted by 15%.
This achieves a return of 4.4%.
Final notes
What is the outstanding feature of this property: A super investment with tenants you can rely on.
About reason for sale: Age reasons
Appointments for viewings: By arrangement with approx. 2 weeks notice in advance
Disclaimer hints
Contents and advertising statements: The descriptions made in this exposé have been prepared to the best of our knowledge and belief on the basis of conversations, studies of property documents, building descriptions, information provided by the seller, minutes of the owners' meetings (in the case of condominiums), research on the Internet with regard to connection location, traffic, schools, etc.. Notices with advertising attributes often also represent a personal opinion of the seller or copywriter, and are not to be understood as a declaration of quality in the sense of §§ 433ff BGB. Inadvertently incorrect or false statements will be corrected by us immediately after a hint or discovery by us. Advertising statements serve to arouse interest and emotions. Buyers must inform themselves in detail about the actual condition of an object brokered for sale, if necessary also by consulting an expert, civil engineer or architect. Verbal statements made on the telephone or at viewing appointments by the broker or employee are considered non-binding and may also be incorrect if based on misunderstandings. An interested party should always obtain written evidence of important statements about the condition, quality or legal status of a property. In particular, statements about expansion, extension, new construction, deconstruction of an object, which fall within the scope of building authorities and building inspection authorities, are not binding on our part. For this purpose, written inquiries must be made to the responsible authorities if this is deemed necessary. A preliminary building application or a preliminary permit application should be made in consultation with an architect (an owner's power of attorney is required for this).
