NEW Attractive apartment package with 4 units and development potential, 1200 Vienna, Pasettistraße

Interesting investor package consisting of four time-limited rented apartments with a total usable floor area of approx. 167 m² at Pasettistraße 24 in Vienna’s 20th municipal district.

An attractive apartment package consisting of four residential units in a Viennese residential building is offered for sale. The apartments are located on the mezzanine level and the first floor with lift and offer an interesting combination of ongoing rental income, long-term potential for appreciation and flexible future usage options.

Three of the four apartments, Top 4, Top 5 and Top 6, are located on the same level on the mezzanine floor. Due to their immediate spatial proximity, there is generally an interesting possibility of combining these units if required and thereby creating a larger, connected residential unit. Such implementation would be possible following technical and building-law review and subject to the required approvals.

The fourth apartment, Top 12, is located on the first floor with lift and complements the package with another compact residential unit.

The apartments are in good, well-maintained used condition. The units were renovated around 15 years ago and equipped accordingly. They have parquet flooring in the living areas, tiles in the wet rooms, plastic windows and fitted kitchens. The existing floor plans enable practical use of the living areas and offer good conditions for sustainable rental.

The apartment package includes different apartment sizes from approx. 33 m² to approx. 68 m² and therefore particularly addresses the target groups of single households, couples and smaller households that are in demand on the Viennese rental market.

All four apartments are currently rented on a time-limited basis, meaning that ongoing rental income can already be generated from the time of acquisition. According to the information available, the tenancies end on a staggered basis between December 2027 and April 2029. This opens up various perspectives for a future owner with regard to reletting, possible repositioning or the later disposal of individual units, in each case taking into account the applicable tenancy-law provisions.

Particularly noteworthy is the combination of four independent residential units, existing rental income and the potential for combining the three apartments located on the mezzanine floor.

The package is therefore particularly suitable for investors and investment buyers seeking an already rented residential property with long-term development opportunities in Vienna’s urban area.

Overview of the residential units and rental income

The apartment package comprises four independent units with a total usable floor area of approx. 167 m². All apartments are currently rented on a time-limited basis.

• Unit: Top 4; Area: 33 m²; Floor: Mezzanine; Gross rent/month: 450,00 €; Gross operating costs/month: 146,00 €
• Unit: Top 5; Area: 33 m²; Floor: Mezzanine; Gross rent/month: 580,00 €; Gross operating costs/month: 148,00 €
• Unit: Top 6; Area: 68 m²; Floor: Mezzanine; Gross rent/month: 820,00 €; Gross operating costs/month: 305,00 €
• Unit: Top 12; Area: 33 m²; Floor: 1st floor with lift; Gross rent/month: 500,00 €; Gross operating costs/month: 175,00 €
• Total: 167 m²; Gross rent/month: 2.350,00 €; Gross operating costs/month: 774,00 €

After deducting the stated gross operating costs, the current calculated monthly rental income is 1.576,00 €, corresponding to 18.912,00 € annually. This corresponds to an average amount of around 9,44 € per m² and month.

The stated amounts are calculated values based on the available rental overview. A final income calculation must be carried out on the basis of the respective tenancy agreements and operating-cost statements.

Purchase price overview

The individual apartments are valued on the basis of the following purchase price expectations:

• Unit: Top 4; Area: 33 m²; Purchase price/m²: 3.850,00 €; Purchase price: 127.050,00 €
• Unit: Top 5; Area: 33 m²; Purchase price/m²: 4.250,00 €; Purchase price: 140.250,00 €
• Unit: Top 6; Area: 68 m²; Purchase price/m²: 4.250,00 €; Purchase price: 289.000,00 €
• Unit: Top 12; Area: 33 m²; Purchase price/m²: 4.250,00 €; Purchase price: 140.250,00 €
• Total: 167 m²; Purchase price: 696.550,00 €

Total purchase price for the apartment package: 696.550,00 €

The average purchase price is around 4.171 € per m².

Based on the calculated annual rental income after deducting the stated gross operating costs, the initial yield is around 2,72 % p. a. in relation to the total purchase price, before further expenses not taken into account, taxes and ancillary acquisition costs.

Tenancy agreement time limits

The existing tenancies have the following agreed end dates:

• Unit: Top 4; Tenancy end: August 2028
• Unit: Top 5; Tenancy end: December 2027
• Unit: Top 6; Tenancy end: 30 April 2029
• Unit: Top 12; Tenancy end: August 2028

The different end dates create staggered perspectives for future owners regarding the further management of the property. The actual availability of the apartments depends on the existing tenancy agreements and the applicable statutory provisions in each case.

Features at a glance

• Four independent residential units with a total of approx. 167 m²
• Three apartments on the mezzanine floor, one apartment on the first floor with lift
• Good, well-maintained used condition
• Renovations around 15 years ago
• Parquet flooring in the living rooms
• Tiled sanitary areas
• Apartments equipped with kitchens
• Plastic windows
• All units rented on a time-limited basis
• Existing ongoing rental income
• Potential possibility of combining Top 4, 5 and 6
• Different apartment sizes with flexible future disposal options

Special investment potential

In addition to the ongoing rental income, this apartment package is particularly convincing due to its long-term flexibility.

The manageable apartment sizes enable targeted appeal to different tenant groups. At the same time, the immediate location of the three mezzanine apartments next to one another opens up an interesting prospect for possible later floor-plan optimisation or combination.

The different end dates of the existing tenancy agreements may gradually create new opportunities for the future management and positioning of the individual apartments.

An interesting investment for buyers who value existing rental income, a compact apartment structure and additional development perspectives.

We point out that a family or economic close relationship exists between the broker and the third party to be brokered.

The broker acts as a dual broker.