5871/1253 - Strong Purchase Price Reduction - Tenement Building Near S-Bahn Station Breitensee with 3.50% Current Yield - Sole Mandate

Residential and commercial building in a prominent corner location

Attractive investment property with development potential

Property data:

• Plot size: approx. 541 m²
• Existing usable floor area: approx. 1,156.70 m²
• Attic potential: approx. 300 m² (subject to building-law review and approval)
• Current annual net income: approx. € 80,270,-
• Target annual net income: approx. € 91,118,-
• Purchase price: € 2,300,000,-

Property description

For sale is a unique Viennese tenement building in the popular 14th district. The building impresses with its charming architecture and excellent location in an established residential area of Vienna. The tenement building extends over four floors and currently offers a generous total usable floor area of approx. 1,156.70 m². The general condition is exceptionally good.

The tenement building is divided into 22 apartments and 2 commercial units. Of the 24 units, 18 units are classified as Category A, 1 unit as Category C and 5 units as Category D. At present, one Category D apartment (approx. 49.80 m²) and one Category A apartment (approx. 63.20 m²) are vacant.

The current annual net income is: € 80,270,-, which at the current purchase price results in a current return of 3.50% per annum.

The target annual net income amounts to € 91,118,- (if both vacant apartments are rented at € 8,- / m² each).

The building extends over several full floors and features a classic, timeless façade design with generous window areas. The prominent corner situation ensures excellent lighting of the units as well as an attractive presence in the urban surroundings.

The property is suitable both as a long-term investment and for investors focused on increasing value through modernization, repositioning or optimization of use.

Development potential

The property currently has two vacant apartments with an area of approx. 113 m². These units offer you the opportunity to create additional value through targeted modernization measures and to achieve sustainably higher rental income. Directly in front of one of the vacant apartments (Category D) there is a corridor WC. By moving forward the apartment entrance door and incorporating the adjoining corridor area, additional usable floor area could be created.

In addition, units with a total area of around 536.80 m² (equivalent to approx. 46.40% of the total lettable area) are currently rented for fixed terms. This creates considerable medium-term potential for rent increases and optimization. After the existing contracts expire, the areas can be adjusted to the current market level and the property's income situation can be significantly improved.

Another significant added value lies in the possible attic conversion with an additional usable floor area of approx. 300 m² (subject to building-law review and approval). The creation of new residential or commercial areas offers considerable value-creation potential and opens up additional sources of income.

Overall, the property offers attractive prospects for sustainable value development, the optimization of existing rental agreements and the expansion of the lettable area. This creates the opportunity to increase the property's income significantly and over the long term.

Summary:

• Tenement building in a sought-after location in Vienna's 14th district
• Current usable floor area of approx. 1,156.70 m²
• Attic extension of approx. 300 m² possible (subject to building-law review and approval)
• Significant increase in income possible (currently vacant approx. 113 m², fixed-term leases approx. 536.80 m²)
• Excellent infrastructure and public transport connections

Location

The location is another advantage of this property: excellent transport connections via tram line 49 and S-Bahn 45 (Breitensee station) guarantee optimum accessibility for tenants and customers alike. You therefore benefit from high footfall and attractive connections throughout Vienna's urban area.

Notice pursuant to the Energy Performance Certificate Presentation Act: An energy performance certificate has not yet been presented by the owner or seller, despite our explanation of the generally applicable obligation to present one and our request for its preparation. Therefore, at least overall energy efficiency corresponding to the age and type of the building is deemed to have been agreed. We assume no guarantee or liability whatsoever for the actual energy efficiency of the offered property.

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.