Multi Family House in Wuppertal, Germany

Fully Let 7 Flat Investment Property with 10% Net Yield!

A fully let, 4 storey (7 flats) building is now for sale directly from the owner, at a bargain price.

The building is located in a centerally and yet a quiet side street in the city of Wuppertal (population ca. 350,000).

The plot size is 243 m2.

The flats are arranged as follows:
Ground floor (left): a flat with a space of 90m²
Ground floor (right): a flat with a space of 36m²
1st floor (left): a flat with a space of 46m²
1st floor (right): a flat with a space of 50m²
2nd floor (left): a flat with a space of 46m²
2nd floor (right): a flat with a space of 50m²
3rd floor: a roof flat with a space of 98m²

Total usable living space is therefore 416 m²

As mentioned above, all spaces are rented out, giving an annual net rental income of ca. 26,520 EUR , reflecting 10% annual net yield.

Besides the rental costs, the tenants also pay each month directly to the landlord a fixed fee to cover all the regular ongoing costs such as: heating, water supply (cold and warm), sewage, garbage disposal, chimney sweep, property tax, snow clearing, city tax, building and liability insurnce,etc. etc.
These costs are adjusted by the landlord each year.

All the flats are rented out for an indefinite period of time.
All renters pay regularly and punctually.

A new gas central heating has recently (Dec. 2010) been installed in the building.

This property is offered directly from the owner, saving you the costs of a real-estate agent (of course you are welcome to appoint one, if you wish).

Typical purchase costs would be around 6.50% (5% property transfer tax and around 1.50% notary’s fees), and are all paid by the buyer.

For further information, please contact the seller.