For Sale Completely Renovated Hotel With A Restaurant/Catering Unit With 14% Return, Essen

Solid construction.
Year of construction: approx. 1960.

Areas and Units
Plot area: approx. 1220 sqm.
Total lettable area: approx. 1145 sqm.
Number of residential units: 7.
Residential unit area: approx. 990 sqm.
Restaurant/catering unit: 1.
Commercial area: approx. 155 sqm.

Layout: 12 apartments, 4 hotel rooms, 1 office/company apartment.

Amenities
Number of floors: 5.
Elevator: Passenger elevator.
Parking: Parking spaces/underground garage.
Additional areas: Cold storage rooms 40 sqm, terrace 35 sqm.
Restaurant: Newly established restaurant on the ground floor, not yet open for business.

Financial Key Data
Purchase price: €1,900,000
Current annual rent: €250,000
Target annual net rent: approx. €320,000
Target annual net rent at full occupancy: up to €400,000
Target multiplier: 6.88
Target return: 14.55%

Energy certificate: Available for viewing.