House for sale in Magdeburg >Ref.No. 1360< Housing Estate with 180 residential units: 7,6 % yield -

Housing estate with 180 apartments nearby the university and a famous park

Built / Renovated:                 1960 / 1995
Residential area:                   10,230 sqm
Complete area:                     10,230 sqm
Actual rent/net/cold/p.a.:       Euro 596,392
Expected rent/net/cold/p.a.:   Euro 757,490
Residential units:                   180
Actual factor:                        13.16
Yield Net:                             7.60 %
Price / sqm:                           Euro 767.35
Purchase price:                      Euro 7,850,000
Commission:                          3.50 % (+VAT)

LOCATION

The capital of Saxonia-Anhalt has 230,000 inhabitants. The highway Autobahn A2 Hannover-Berlin crosses the town in the north. Towards Leipzig, the highway A 14 touches the town in the east.
The property is located on the eastern waterside of the river Elbe in direct near to the famous park Elbuferpark - selected in 2007 to one of the 10 most beautiful parks in Germany and known from the German Federal Garden Show. The historical architectural monument, utilised by the University Of Applied Sciences Of Magdeburg, is situated directly opposite the buildings. The centre is reachable by tram within a few minutes. The tram station is approx. 200 m away from the property.

BUILDING

The 3 freely standing 5-level residential buildings were completely renewed in 1995. In every block of flats, there are 6 house entrances and staircases and 60 dwellings, all with balcony. Each stairway has a glass passenger elevator. The layout of the apartments is extremely appropriate (44x 2-room apartments à 49 sqm, 110x 3-room apartments à 58 sqm, 26x 4-room-apartments à 67 sqm). To the property belongs a generous garden as well as parking spaces. Also part of the property are 3 vacant lands à 850 sqm and 1 land à 3,500 sqm.

OTHERS

All sanitary, electrical and heater installations got modernized. Also the windows and doors were renewed. With a renting reserve of 16% (29 dwellings) the rental income can be increased, accordingly. The proximity to the University with its 5,300 students and an outstanding high ranking in a Germany comparison, the good traffic conditions as well as the extremely calm and green environment offer the potential for full letting.

Contact: Steve Daumann

info@bpc-berlin.com

tel: +49 (0)30 411 98 39 24

fax: +49 (0)30 411 98 39 15

property reference: BPCB999000243