Attractive Wilhelminian-style corner apartment block with potential for development and a good return on investment, near Quellenplatz

Property description

Location:

This attractive Wilhelminian-style corner apartment block is situated just a few steps from Quellenplatz. The excellent transport links and proximity to shopping facilities, restaurants and public amenities make the location particularly attractive.

Description:

Built in 1887, the building is a typical example of Viennese Gründerzeit architecture with a stately original façade. The unfinished attic offers further potential for conversion and presents attractive opportunities to expand the usable floor space.

The total usable floor area of 1,192.15 m², as stated in the rental list, is divided as follows:

16 flats of various categories on the upper floors (1st–3rd floors)

2 commercial premises on the ground floor

The current net income amounts to EUR 7,836.12 per month, corresponding to an annual income of around EUR 94,000.

Land use designation: W and WGV, building height up to 18 m

The building is privately owned and has not yet undergone comprehensive modernisation. This presents significant development potential – in particular through:

Adjusting existing rents to market rates when re-letting

Conversion of the loft to create additional, high-yield residential units

These measures offer the opportunity to significantly increase the current income and thus achieve an above-average, optimisable return.

Please note:

The contract will be drawn up exclusively by the appointed solicitor (mandatory use of solicitor, non-negotiable).

Purchase price: EUR 2,650,000 (subject to negotiation)