2 Room(s) Apartment for Sale in Paris 1ER Arrondissement

Property Description

Features: Fully renovated in 2016 and ready to move in after a fresh coat of paint to suit your taste. The kitchen was custom-built using high-quality Italian materials. Southeast-facing, very sunny with 6 large windows overlooking the courtyard. Exclusive right of use of the attic acquired in 1995. 2.70 m ceiling height in the living room and kitchen, and 3.20 m ceiling height in the bedroom. Option to remove the drop ceiling in the living room to gain additional height in the attic. Original features include a fireplace, hardwood floors, and exposed beams in the bedroom. Numerous built-in closets and custom storage solutions. 5th floor of 5. Two apartments on this floor; secure building (Vigic security system + intercom/keypad and reinforced door). No elevator, but a feasibility study has just been completed (awaiting an official response). High-speed fiber-optic internet. Individual gas heating. Renovations to the entrance porch have just been approved. Monthly maintenance fee of €144, including common area maintenance and water. Property tax of €876 per year. Ideal as a first home, a second home, or an investment property.

Located in the heart of the Palais Royal business district, this 5-story building (including the ground floor) was built in 1770. It consists of two buildings without elevators (a proposal for an elevator is currently under consideration) and contains 20 apartments. It stands on a 549 m² lot located 196 m from the Pyramides metro station (Lines 14 & 7) and 311 m from the Quatre Septembre station (Line 3). It is in the Collège Jean Baptiste Poquelin school district, 251 m away. A Vélib’ station is just a stone’s throw away.

1st Arrondissement - One of the oldest in Paris, the 1st Arrondissement is the geographic center of Paris and a haven for tourists. Located along the right bank of the Seine, it also includes the western tip of the Île de la Cité, which was conquered by the Romans in 52 BC. This arrondissement is the least populous in the city and one of the smallest in terms of area. It is home to famous sites such as the Louvre and its incomparable art collection, the Tuileries Gardens with their impeccably landscaped grounds that attract Parisians, picnickers, and lovers of modern art, the Palais-Royal—once the seat of royal power in Paris— the Conciergerie, a former palace converted into a prison, and the magnificent Gothic-style Sainte-Chapelle, as well as the brand-new Forum Les Halles—France’s most-visited shopping center, which dates back to the early Middle Ages—and finally Rue Montorgueil, a charming pedestrian street lined with eclectic boutiques, specialty shops, bakeries, and fishmongers. Much of the rest of the arrondissement is dedicated to offices and government agencies and retains an air of elegance. Places to visit include the Place Vendôme, the Pont Neuf and the Pont des Arts, and the Hôtel Ritz...

Investor Information:
- Potential rental income for a furnished unit: 43.7 € / m² / month --> 2,991 € (source: DRIHL or SeLoger) --> 4% projected return

Square footage for the units included in the price:
- Total living area --> 53.91 m² living area; 52.42 m² Carrez
- Weighted area --> 53.165 m² = 12,696 euros/m²
Room details: Living room/kitchen: 32.14 m²; Bedroom: 15.02 m²; Bathrooms: 3.64 m²; Laundry room: 1.62 m²
- Total ownership shares --> 29/1,007th