Vidauban Investment Building for Rent - 4 F2 Units with Loggia

Property Description

An investment opportunity particularly attractive with this investment property consisting of four F2 apartments, all currently rented and equipped with air conditioning.

Thanks to its rental income and its sale price of 298,000, the building can allow theoretical self-financing over 20 years (subject to financing conditions).

Ground floor? 35.76 m² F2
Rented at 506.76 per month, plus 30 in service charges provision.
It includes a living room with kitchen of 22.78 m², a bedroom of 9.39 m², a bathroom with wc of 3.59 m², and an interior loggia of 4.70 m².

First floor? 31.58 m² F2
Rented at 506.76 per month, plus 35 in service charges provision.
It includes a living room with kitchen of 19.22 m², a bedroom of 8.46 m², a bathroom with wc of 3.90 m², and an interior loggia of 4.70 m².

Second floor? 31.77 m² F2
Rented at 506.76 per month, plus 25 in service charges provision.
It includes a living room with kitchen of 19.37 m², a bedroom of 8.50 m², a bathroom with wc of 3.90 m², and an interior loggia of 4.70 m².

Third floor? 34.78 m² F2
Rented at 568.69 per month, plus 25 in service charges provision.
It includes an entrance of 2.13 m², a kitchen of 3.81 m², a living room of 15.20 m², a bedroom of 9.43 m², a bathroom with wc of 4.21 m², and a pleasant rooftop terrace (terrasse Tropezienne) of 4.70 m².

Financial data:
Monthly rents excluding charges: 2,088.97 (i.e. 25,067.64 gross / year)

Detail of the 271.07 monthly charges borne by the owner:
Insurance: 73.23
Electricity for common areas: 21.26
Monthly property tax: 176.58

Thus a net monthly rental income of: 1,817.90 (i.e. 21,814.80 net / year).

For a sale price of 298,000, net profitability is: 21,814.80 ÷ 298,000 = 7.32% net of these charges.
By way of indication, financing 298,000 over 20 years at a fixed rate of 3.50% would entail a monthly payment of about 1,728 excluding borrower’s insurance.
The net monthly rental income of 1,817.90 would thus cover this installment from the first year, with a theoretical surplus of about 90 per month.

Fully rented building, immediately profitable, requiring no tenant search.

Indicative simulation does not constitute a financing offer or contractual commitment. Profitability is calculated before tax, financing costs, borrower’s insurance, potential vacancy, maintenance work and acquisition costs. A loan is a commitment and must be repaid. Check your repayment capacity before committing.

Condominium of 4 lots - including 4 residential lots.