Investment property with three rented apartments

Address of the Real Estate

ZIP Code: 65936

City or town: Frankfurt

District: Sossenheim

Purchase Price and Realtor Commission

Asking Price: € 529,000.00

Comment on purchase price: Annual net return 4.38%

Price per sqm living or other space: € 2,500.00

Parking possibility: Two parking spaces on the property

Brokerage commission to be paid by buyer incl. VAT (% of notarized purchase price): 5.95 %

Total commission: 5.95 %

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.

Keynote

The special qualities of the property: Well-maintained and well-preserved apartment block with reliable tenants and high energy-saving potential eligible for subsidies

Land plot data

Size of Landplot: 226.00 m²

Quality of living area: Middle location

Does the property have oversize or is it additionally buildable:
no

Description of property

In a nutshell:
A charming building with manageable operating costs

Year of construction: 1904

Comment regarding year of building: The original house was built in 1904; several extensions and conversions have been made since the 1950s.

Detailed description of the object:
Prominent corner house with three apartments, one of which is on the top floor. All three apartments are well rented. All three apartments have been modernized and very well looked after by the tenants.
The tenants feel very comfortable in the house and do their part to ensure that it stays that way.
The house has been in the family for many decades and, due to age, is now to be handed over to trustworthy, good hands with three very reliable tenants.

Features:
...without green front garden but distance to the landscape conservation area only approx. 350 m

Comments regarding parking situation:
There are two parking spaces on the property, see photo.

Other information (population etc.)

Number of residents whole community: 760.000

Federal country: Hessen

Population City District: Approx. 16,000

More property information

Type and age of windows:
Insulated glazed plastic windows from around 1995-2001

Kind and extent of refurbishments:
Ground floor was extensively renovated in 2009. 1st floor was extensively renovated in 2015 (power lines in 2013). attic was expanded and modernised in the 1990s. heating was renewed in 2009 (gas condensing boiler). basement was renovated in 2024. repairs and partial renovations to the entire property were carried out regularly as needed.

Other data to the property:
The attic has insulation on the top floor (attic floor) made of Fermacell.

Notes regarding built-in kitchen: The three fitted kitchens were installed by the tenants at their expense.

Cellar layout: Each flat has a storage room in the basement, as well as the boiler room. The washing machines are located in the respective flats.

Description of location

Description of location:
The well-kept corner house with covered bicycle parking spaces is located in a quiet side street with little traffic in Sossenheim. Doctors, pharmacies and shopping facilities are within walking distance. The motorway access in all directions is only a few minutes away by car (A648, A66, A5 as well as Frankfurter Kreuz and the airport).
The Main-Taunus centre and the industrial estates of Eschborn and Sossenheim are also within easy reach (also easily accessible by bicycle).
The bus stop for lines 52, 55 and58 (Messe, Rödelheim station, Höchst, Airport Terminal 1) can be reached on foot in just a few minutes.
The Sulzbachwiesen nature reserve and recreation area is just 350 metres away. From there you can reach the "Arboretum" hiking area in Eschborn on foot or by bike, a small paradise of nature for children and adults (https://frankfurt-mit-kids.de/arboretum-main-taunus-rinderkarussell/).
The Vordertaunus with its pubs and beer gardens are also within easy reach on foot or by bike.
The Nidda and the Frankfurt green belt can be reached via the Sossenheimer Unterfeld.

City district: Sossenheim

Energy Performance Certificate (EPC) Data

Residential Building - Final Energy Value: 234.40 kWh/m²a

Primary energy demand: 257.80 kWh/m²a

Year of construction of building according to EPC: 1904

Year of Construction of the heat generator according to EPC: 2009

Date of Energy Performance Certificate: 6 Mar. 2024

Multiple dwelling unit - specific data

MFH Number of residential floors total: 3

Living area: 210.00 m²

Type of construction: Solid

Number of flats (apartments) in building: 3

Number of flats (apartments) per full size storey: 1

Attic storey developed: Yes

Basement (cellar area): Yes

Number of full sized storeys: 2

List of apartments:

Ground floor: 4 rooms, kitchen, bathroom, courtyard, 67.84 m² (the courtyard area is not included in the living space), basic rent currently €660

1st floor: 3 rooms, kitchen, bathroom, balcony, 71.62 m²; basic rent currently €685

Top floor: 4 rooms, kitchen, bathroom, 69.79 m²; basic rent currently €545

Pls. note: All rents were adjusted to 1.10.2023 as part of the Frankfurt rent index.

Rental situation

General information on the renting situation: There is no vacancy

Current net rent per month: € 1,930.00

Further information on the net rental income:
€23.160p.a.

Is the property fully rented out: Yes

Detailed rental schedule:

Ground floor Tenancy agreement from 1.4.2008, net rent originally € 640 plus € 20 for the parking space, from 1.10.23 increase of € 20 to € 680 incl. parking space

1st floor Tenancy agreement from 1.5.2013, net rent originally € 660; from 1.10.2023 increase to € 685.00

2nd floor (attic) rental agreement from 1 October 2010, net rent originally € 495.00; last increase from 1 October 2023 by € 10 to € 545.00 plus € 20.00 rent for the parking space = € 565.00.

Total rent per month = € 1,930 or € 23,160 p.a.

Running costs, taxes etc. per annum (so far, without guarantee)

Land tax: € 192.24

Water, sewer, rainwater p.a.: € 783.87

Thereof potable water costs: € 417.12

Thereof sewage costs: € 253.75

Thereof costs for rainwater: € 113.00

Electricity : € 279.73

Heating cost: € 5,421.42

Maintenance heating: € 376.15

Chimney sweep: € 93.46

Waste disposal : € 433.92

Building insurance: € 950.82

Building owners liability insurance: € 65.87

Comment to the cost positions: This includes general electricity and electricity for operating the heating. (Heating is with natural gas.)
The building glazing is included in the building insurance premium.

Other details, special features, information about the property

What else you need to know: Other energy modernisation measures with potential for subsidies have also been taken into consideration when determining the sales price (e.g. roof truss orientation is suitable for photovoltaics and solar thermal energy; external thermal insulation composite system in conjunction with triple thermal insulation glazing; examination of other energy sources such as heat exchangers, etc.). Subsidies and possible rent increases due to modernisation, insofar as they increase living comfort, can mean a highly attractive, resilient investment in conjunction with corresponding tax benefits. It is best to combine your financing enquiry with such a modernisation concept and sound advice on financing and subsidies.

Final notes

What is the outstanding feature of this property: A modern classic as an investment property in well-maintained condition

About reason for sale: Age-related

Appointments for viewings: Must be agreed with the tenants by the broker

Note regarding the photos: Mostly owner photos

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).

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