Rental Yield: 6.7%
2 Multi-family houses with 37 apartments and 17 underground parking spaces
The property consists of two buildings with shared underground car parking spaces in a nice residential area. Apartments are in a good condition, most of them have been renovated and occupied with long term tenants. It has great location, next to the Lidl shopping centre, pizzeria across the street and train station within walking distance, allowing to easily commute to Dortmund or Gelsenkirchen cities.
Units: 37 apartments
Current rent: €181,301 (factor 14.8)
Rentable Sqm: 2,867 sqm
Avg price per Sqm: €938
Avg price per unit: €72,702
Mortgage included: Opt
The average rent across apartments of 5,00€/sqm are still below the market rate of 5.50€/sqm showing clear indication for further increase. Stable rental income and high rental yield of 6.7% generates good cashflow on a yearly basis.
KEY REASONS TO INVEST
- RENT: Fully rented with a very attractive rental yield of 6.7%.
- FULLY MANAGED: German based Property & Investment Management
Gelsenkirchen is a city of nearly 260,000 inhabitants located in the in western part of the Ruhr area in a region known as North Rhine-Westphalia, which is the most populated state in Germany with 17,500,000 people. There is strong rental demand for good quality properties like these due its excellent location as a short commute to Dusseldorf and Dortmund.
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