Long and Short Term Rental

Long-term and short-term rental

Are you an investor and want to generate high returns over the long term? Are you already renting out apartments and want to expand your business with a new property? Are you looking for an apartment for yourself and want to rent out the other apartments profitably? Here you have the perfect property with additional potential for growth.

Location

Carinthia. Upon your written inquiry with your complete contact details, we will be happy to provide you with the exact address.

Advantages

• Location: Quiet location yet only a few minutes from the city center
• Active operation: the property is fully operational and is rented out continuously throughout the year
• Ongoing income: from short-term and long-term rentals
• High revenues: which can be increased even further
• Potential for growth: you can develop additional apartments
• Personal use: you can use one of the larger apartments yourself and continue renting out the rest
• Homepage: included in the purchase price
• Furnishings: included in the purchase price
• Purchase price: approx. € 1.796,-/m² usable floor area incl. balconies and terraces (excluding ancillary areas)

Income

• Sales revenue (2024): € 182.000,-
• Operating result (2024): € 109.159,-
• Return (2024): 6,75% calculated on the purchase price plus ancillary purchase costs

Short-term rental

• Apartments: 12
• Rental through: booking.com
• Average room occupancy (2024): 65,7%
• Promotion: via booking.com, own homepage and repeat guests

Long-term rental

• Apartments: 4
• Rental: fixed-term tenancy agreements

Additional potential for growth

• Building 1: On the ground floor, the breakfast room, office and ancillary rooms could be converted, thereby creating an additional 2-3 apartments
• Building 2: The attic could be converted, thereby creating 3-4 additional apartments
• Buildings 2 and 3: After the long-term tenancy agreements expire, apartment Top 8 (Building 2) and Top G3-1 (Building 3) could be rented out short-term, thereby increasing rental income.

Key details

• Plot: 1.583 m²
• Buildings: 3
• Apartments/units: 16
• Garage/carport: 1
• Total area including ancillary areas: approx. 1.190 m²
• Usable floor area: approx. 750 m²
• Balconies/terraces: approx. 85 m²
• Condition: well-maintained, renovated (except for one apartment, Top 8)
• Heating: oil central heating for all 3 buildings
• Inventory: included in the purchase price - except for the private furniture in the long-term rented apartments
• Year built: 1976 (Buildings 1 and 2), 1973 (Building 3)
• Handover: by agreement

Buildings

This property consists of 3 buildings. Building 1 and Building 2 are connected to each other. Building 1 contains 1 garage with a carport in front, which is also rented out.

• Building 1: ground floor, 1st upper floor
• Building 2: ground floor, 1st upper floor, attic (not yet converted)
• Building 3: ground floor, 1st upper floor, attic

Parking

The tenants currently park on a neighboring property. There is currently only 1 garage with a carport in front on the property itself.

• Neighboring property: a plot for 17 parking spaces has been leased from the neighbor. The annual lease payment for this amounts to € 1,100,-.
• Own property: according to the plan, an additional 17 parking spaces could be constructed here.

Costs

• Purchase price: € 1,800.000,-

If you continue to use the property for commercial rental, you can reclaim the 20% VAT upon purchase. The purchase price would then be € 1,500.000,- net.

Ancillary purchase costs

• Real estate transfer tax: 3,5% of the purchase price
• Registration fee: 1,1% of the purchase price
• Contract drafting costs (incl. escrow processing): max. 0,3% of the purchase price including 20% VAT plus cash expenses
• Service fee: 3,6% of the purchase price including 20% VAT.

Your contact for this property

Traumimmobilien.at - Engl Immobilien GmbH, Mr. Ing. Josua Alfred Engl, 9201 Krumpendorf, Südbahnweg 47, Tel: 0043 (699) 150-412-17, Mail: [email protected].