The total area of the five-story brick home - 1 040 sq. m. the House is in excellent condition (needs minor repairs inside). The usable area of apartments - 911 sqm In 1998 was a complete reconstruction of the building, including the facade and superstructure of the attic. At the moment, on each floor, 2 bathrooms and 6 bedrooms. On the adjacent plot there is a Parking place for 3-4 cars. There is a possibility to expand up to 8 Parking spots.
The calculation of return when you resell the object to the apartments. In this area of Prague, at the moment, the cost of 1 sqm one-bedroom and two-bedroom apartments after repair is from 3 000 to 3 800 euros. The cost of sales 3 300 euros for 1 sq. m of living area and total area of apartments - 713 sqm: 713 x 3300 = 2 352 900 euros. 198 sqm – room on the first floor + attic on the last floor. 198 sqm x 2,500 (the cost of 1 sqm on the 1st floor) = 495 000 euros. Total: 2 847 900 Euro 4% (sales tax) = 2 733 984 euros. 2 733 984 Euro (income) - 2 213 750 euros (flow rate) = 520 234 Euro (net income). 23.5% - return on resale. In return does not include the sale of Parking spaces (from 13 000 Euro each). The time required for reconstruction is from 6 to 9 months (more is determined by the cost estimate).
The house is located in Prague 2. Within walking distance from Wenceslas square (3 minutes walk).
The cost of apartment houses - 1 830 000 euros. The documents are ready to deal. Project management (full transaction processing - repair facility) to 2.5% of the property price is 45 EUR 750. Renovation of existing apartments (with staircase, Elevator and heating) – 325 Euro per sq. m. Total: repair – 1040 x 325=338 000 euros. Total cost - 2 213 750 euros Additional information is available upon request and upon the signing of the LOI by the potential acquirer.

Posted Aug 18, 2015

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