Latvia
City of Riga
Apartment house (9% per annum net)
Apartment building consisting of 3 buildings (total area 2700m2):
1. building 58 m2
2. new building 984 m2 (commissioned in 2000)
3. old building 1704 m2 (replaced all communications and ceilings)
Area for rent: 2297 m2
Land area: 2400 m2
Number of tenants: 12 (warehouses, shops)
Rental price: warehouses 3.5€/m2, shops 7€/m2
98% of the total area is leased
Rental income including VAT: € 12,051 per month (€144,612 per year)
All accounting is official!
Number of employees: 5 (3 security guards, 1 janitor, 1 manager)
Property tax: 11234€/year (payments of 936€/month)
NET return (after payment of ALL expenses and taxes): 9% per annum
Price: 1,300,000€
