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2 400 000 €
2 400 000 €
| Sale price | 2 400 000 € |
| Price per square meter | 1 943.32 € |
| Floor area | 1 235 m² |
| Construction phase | Resale |
| Number of storeys | 5 |
| Address | Germany, Monchengladbach |
| Location | within the city |
| Profitability | |
|---|---|
| Annual return | 50 % |
|
Return (initial profitability) - rental income (excluding expenses) / price of the object excluding expenses*100% |
|
The project provides for the reconstruction of the building for a care home for the elderly.
The renovation permit is in the process of being obtained.
The building was built in 1985, in good condition. It is located in the city center, not far from the central pedestrian street. All necessary infrastructure is located nearby.
Plot size ~ 635 m2
Total rental area ~ 1435 m2 (including basement)
The cost of the plot is 1,800,000 euros
The total cost of reconstruction will be ~ 1,200,000 euros.
Available financing opportunities:
1. a valid loan of 1.2 million euros at a rate of 1.49% per annum with the possibility of increasing the amount by an additional 230,000 euros and 570,000 euros.
2. An agreed subsidy of 1.5 million euros. (+ option of 0.4 thousand euros)
There are two options for making a profit after reconstruction:
1. The sale of the property at a cost of ~ 4,500,000 euros, in which case the profit will be 1,500,000 euros.
2. Rental with an income of ~ 225,000 euros per year, followed by an increase in the rate to 235,000 euros per year.
To date, there is a large and confirmed interest in renting this house for 15 years, with subsequent prolongation.
The commission for the buyer is + 3.57% of the cost of the object.
Additional information can be provided upon request.
