Tenement house with 4 apartments and restaurant in Graz

Property

Residential and commercial building in a central location in Graz’s Gries district, consisting of four apartments and a restaurant on the ground floor. There are currently no existing rental agreements. This means the property offers full flexibility for renting out anew, owner-occupation or further development.

Areas & units

Plot: approx. 458 m² (of which approx. 241 m² built on, approx. 217 m² courtyard)
Total living area: approx. 227 m²

• Apartment 1 (approx. 80 m²): entrance hall, living room, kitchen, bedroom, bathroom with bathtub, shower and WC, terrace of approx. 34 m²
• Apartment 2 (approx. 33 m²): kitchen, bedroom, bathroom with WC
• Apartment 3 (approx. 56 m²): entrance hall, living-dining room, bedroom, bathroom, balcony
• Apartment 4 (approx. 58 m²): entrance hall, living-dining room, bedroom, bathroom with bathtub, French balcony
• Ground floor: restaurant approved for use as a catering establishment – bar area, several dining rooms, storage room, cloakroom, WC facilities
• Basement: basement rooms, heating and tank room

Building history & condition

Historic period building that existed before 1812. Following war damage, the house was rebuilt between 1946 and 1950. In 1975, a conversion, the development of the attic and an underground garage were approved; the occupancy permit has been in place since 1996.
In 2013, the 1st upper floor was extensively renovated and the roof was newly constructed.

Heating & energy

Oil-fired central heating (boiler built in 1976) with an oil tank in the basement (approx. 11,000 l). Hot water supplied by the heating system.

Parking

Garage for one car, carport for two cars and 4 parking spaces in front of the house.

Rental potential (calculated)

There are currently no valid rental agreements. If rented at the benchmark rate under the MRG (Styria: € 9,30/m²), the calculated annual net rental income would be approx. € 39.000,– to € 45.000,– (apartments, restaurant, garage and carport). This corresponds to a gross yield of approx. 6,5 % to 7,5 % on the purchase price.

The calculation is for guidance purposes only; increases and reductions to the benchmark rate, as well as the rent actually achievable for the restaurant, must be assessed on a case-by-case basis.

Ongoing costs (according to the owner, entire house, monthly)

Electricity and water approx. € 771 · property and land tax approx. € 60 · heating oil approx. € 650 · chimney sweep approx. € 20 · insurance approx. € 281
Total approx. € 1.782 per month

Asking price: € 599.900,–

*The price may change upwards or downwards. Subject to acceptance by the seller*.

I look forward to your enquiry.

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*All information in this exposé has been prepared with the greatest care and to the best of our knowledge. It is based on information provided by the owner and on documents available. Despite careful review, errors, printing, spelling or input errors cannot be ruled out. Liability for the accuracy and completeness of the information is excluded to the extent permitted by law. Only the actual conditions on site and the documents provided during the contractual process are authoritative.