Cute 3-room apartment opposite Skyline Plaza

Street: Frankenallee

ZIP Code: 60327

City or town: Frankfurt am Main

District: Europaviertel

Asking Price: € 418,000.00

Parking possibility: There are underground parking spaces that can be rented if available

Brokerage commission to be paid by buyer incl. VAT (% of notarized purchase price): 2.975 %

Total commission: 5.95 %

Commission payable by: Half by buyer and half by seller

Type of Land plot: Building and surrounding property

Size of Landplot: 897.00 m²

For WEG: co-ownership share in the property: 17/1.000 Shares

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

In a nutshell:
Small but nice! Long-term rental potential secured.

Year of construction: 2007

Comment regarding year of building: One of the first developments during the construction of the new Europaviertel in Frankfurt.

Detailed description of the object:
Very nice, well-designed and well-rented 3-room apartment. Living room, kitchen, study, bedroom, balcony, bathroom, hallway, plus basement room. On the 5th floor of an apartment block in the immediate vicinity of the SkylinePlaza shopping center, and only five minutes from the Frankfurt trade fair (on foot). Ideal for renting. Current rental income €960 (€14.77 /m² living space)

Features:
Fitted kitchen, solid parquet floor, bright doors, pleasant living environment.

Comments regarding parking situation:
There is no parking space at the apartment itself. You can inquire whether one of the underground parking spaces is available for rent.

Description of location:
The location is great. Only three minutes' walk from the Skyline Plaza, a few minutes from the Frankfurt trade fair and the banking center, and the main train station can also be reached on foot within ten minutes. According to current information, the new underground station is being built directly in front of the building.

City district: Europaviertel (Gallusviertel)

Public transport connection:
The tram stops "just around the corner"

General noise level of location: Alive

Shopping facilities: Skyline Plaza offers everything you need

Type of energy performance certificate: Residential building consumption certificate

Residential Building - Final Energy Value: 60.00 kWh/m²a

Primary energy demand: 66.00 kWh/m²a

Main energy source: Natural gas

Year of construction of building according to EPC: 2007

Year of Construction of the heat generator according to EPC: 2008

Energy consumption for hot water included: included

Energy efficiency class: B (< 75)

Date of Energy Performance Certificate: 19 Oct. 2017

Type of Condo: Apartment

In which floor (groundfloor=0): 5

Total number of floors with GF and possibly DG: 6

Approx. living area: 65.00 m²

Source or reference to the floor space information: The living space was measured again for checking purposes and the information in the documents is correct.

Rented out (details): Yes

Number of rooms (German counting): 3.00

Number of bedrooms: 2

Number of bathrooms: 1

Balcony, Terrace, Loggia: Balcony

Co-ownership shares: 17/1.000 MEA

Share of property on the land in %: 1.70 %

Monthly housing fee: € 246.10

How much (in EUR) of maintenance fund payment already included in housing fee: € 49.58

(More) Informations on maintenance reserve fund: The reserve balance as at 31.12.2022 will be submitted individually during the inspection. More recent figures are not available.

Note: From the 2024 economic plan

Allocable to the tenant when letting (excluding property tax and CO-2 share): € 151.95

Source of these informations: Billing 2022

Renovations to be done in the flat: No

Number of units in the block: 207

Further hint regarding other than apartment units: The jointly managed units include not only Frankenallee 25, but also the buildings Mainzer Landstraße 146 and 148. For the maintenance reserve and maintenance or modernization measures, we received the following information from the property management when asked to what extent the owner of the apartment offered for sale here is involved.
Quote:
"In principle, these investments are financed from the maintenance reserve. Depending on the measure, the costs are either borne by all owners (= 11,000 co-ownership shares) or by Frankenallee (= 1,000 co-ownership shares) or Mainzer Landstrasse 146-148 (= 10,000 co-ownership shares), always in proportion to the co-ownership shares.
Of the measures that affect the entire property, 30% of the costs are allocated to Frankenallee on a pro rata basis and set in relation to the co-ownership share of 17 MEA. Added to this are the costs that can be directly allocated to Frankenallee.
The measures will be implemented following a prior resolution, but not all at the same time."

Planned actions: There is a 10-year plan for extensive major renovations and any necessary modernizations. This has not yet been decided, only presented by the property management. Buyers can find out more about this from the minutes of the meeting.

General information on the renting situation: The apartment has been rented to the current tenants since November 1st, 2017. The rental agreement is for an indefinite period. The originally agreed rent was €870.

Current net rent per month: € 960.00

Land tax: € 330.96

What is the outstanding feature of this property: Easily rentable investment in a safe location

Appointments for viewings: By arrangement (because only rented for individual dates)