Latvia
City of Riga
Apartment house in the historical center
Apartment house with commercial premises and apartments in the very center of Riga, in the historical center of the city.
An object with high liquidity.
The building was completely reconstructed and renovated in 2004: the sewerage and water supply systems were replaced, new powerful electrical networks, all modern types of communication were brought, the most economical heating and hot water supply system was installed with the presence of an individual gas boiler with a meter in each individual apartment.
All apartments are fully renovated and equipped with furniture and expensive household appliances.
In each apartment: intercom, underfloor heating, parquet, fireplace, security and fire alarm system, ventilation and air conditioning system, the most modern communication system, satellite and cable TV, programmable heating system.
The building has a modern elevator.
The building is a UNESCO World Cultural Heritage Monument.
During the restoration, great attention was paid to preserving the decorative interior decoration, ceilings, Rococo stoves, the main staircase and the original railings, as well as the original tiles of the 19th century.
All apartments and commercial premises are leased for a long-term lease.
Tenants: top managers of large international companies, diplomats, travel agency, restaurant, shop.
There is also a large dry basement in the building, which can be turned into a restaurant, bar, shop or club.
Rental income: 26,000€/month ×12 months = 312,000€/year
Profitability: 5.2% per annum
The price is reduced from 6,000,000€ to 5,950,000€
