Corner tenement building, unrefurbished private ownership, yet high initial yield

Location:

Corner of Pernersdorferstraße and Laxenburgerstraße

Description:

The Gründerzeit corner building constructed with a building permit dated 27.02.1887 has a beautiful original façade and an expandable shell attic in a very good transport location and with excellent infrastructure.

• The usable floor area (according to the rent list) is 1,192.15 m², consisting of
  • 16 apartments of various categories on floors 1-3 and
  • 2 commercial units on the ground floor, partly rented long-term to good tenants
  • Net income/month is € 7,834,-
  • Annual income therefore 95,200,-
  • Zoning: W and WGV, 18m
  • Yield as it stands: 3.6%
  • Total purchase price: 2.65 million
  • Price/m²: 2,222,-

The house is privately owned and has not yet been worked on. There is great potential for an increase in value in the apartments: where an area of approx. 850 m² is rented at an average of 2.23 €/m² (standard upgrade before reletting). One Category A apartment, currently owner-occupied, can be handed over free of occupancy. In accordance with this location, expanding the shell attic to create rental apartments is an option.

Regarding the preparation of the contract, binding legal representation is required and non-negotiable.

Have we sparked your interest? We would be happy to send you further documents or arrange a viewing.

Purchase price: € 2,650,000,- (negotiable)

We would like to point out that there is a family or economic relationship between the broker and the third party to be brokered.

The broker is acting as a dual agent.