House for sale • 1200 m² without real estate, Baden-Württemberg
, Baden-WürttembergPublic transport 9 minutes of walking • Lift • ParkingSummary:
- Sale price: €1.5 million
- Rentable living area: 803 m² => Sale price corresponds to €1,870 per m² of living space
- Current annual net cold rent: approx. €101,000 p.a. => Sale price corresponds to a 14.9 multiple or a 6.7% gross initial yield
- Target annual net cold rent: approx. €106,000 p.a. => Sale price corresponds to a 14.2 multiple or a 7.1% gross initial yield
- Further potential for development and expansion exists
- No commission – direct from the owner
The offered property is an attractive residential building in one of the best residential areas of Bad Mergentheim. Quiet yet centrally located with a predominantly southern exposure, tenants can enjoy sunlit rooms in their apartments and views over Bad Mergentheim.
The 9 apartments in the building, most of which feature a balcony or terrace, are currently all rented and generate an annual net cold rent of approx. €100,000. With potential indexation and rent increases in the course of tenant turnover, there is an opportunity to raise the annual net cold rent by over 5% to approx. €106,000.
The property was constructed in the 1970s/1980s and has been continuously maintained. In 2022, comprehensive renovation work was carried out in the building (including, among other things, the replacement of flooring in some apartments, modernization of some bathrooms, and partial replacement of windows). In the short to medium term, investments in the roof equivalent to approximately one year’s rent will be necessary to maintain a well-kept condition.
Furthermore, there is the possibility to create additional apartments by developing previously unused areas and/or by expanding the building on the existing plot.
The property is located in an upscale and quiet residential area in the spa town of Bad Mergentheim. It is close to the city center, which offers all important local amenities.
Within walking distance of the property, public transport as well as doctors, restaurants, cafés, bakeries, and other shopping facilities are easily accessible. In the nearby area, there is also the Residenzschloss, the beautiful spa park, and playgrounds.
- Heating provided by district heating
- The apartments are almost fully equipped with fitted kitchens or kitchen areas
- A TÜV-tested, maintained, and operational elevator is available
Property Characteristics
| Listing ID | 899942 |
|---|---|
| Condition | After reconstruction |
| Age | Over 50 years |
| Price per unit | €1,250 / m2 |
| Užitná plocha | 1,200 m² |
|---|---|
| EPC | F - Very uneconomical |
| Total floors | 4 |
Additional information
| Balcony | |
| Lift |
| Parking | |
| MHD 9 minutes on foot |
What you will find nearby
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