Corner investment building, unrefurbished private ownership, still high initial yield

Location:

Corner of Pernersdorfer- and Laxenburgerstraße

Description:

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

• The usable 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, some rented out long-term
• Net income/month is € 7,834,-
• Annual income therefore 95,200,-
• Zoning designation: 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 renovated. 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 (upgrading of standards before re-letting). One Category A apartment, currently owner-occupied, can be handed over vacant. In accordance with this location, expanding the unfinished attic for the construction of rental apartments is an attractive option.

Regarding the preparation of the contract, the engagement of a lawyer is mandatory and non-negotiable.

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

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

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

The broker acts as a dual agent.