For sellers
Investment opportunity with 7.4% gross return.
Sold (Ref.No: SOF132-sold)
37 000 EUR
39 900 EUR (753 EUR / sq.m.)
33 320 GBP
44 584 USD
Property Details
Type of property: apartment
Type of offer: new
Region: Sofia (Mladost 4)
Living area: 53 sq.m.
Floor: 5
Bedrooms: 1
Description

Investment opportunity with 7.2 % gross annual return. City of Fountains complex

A large studio converted to a 1 bedroom apartment eparated with sliding door in a newly built complex with Act 16 status (residency permit)

Just 5 minute walk from Sofia's Business Park, home of Hewlett Packard, Microsoft, Telenor, Hyundai etc and growing number of 10,000+ employees. The 'City of Fountains' complex consists of more than 400 properly built units, it is in a class of its own in the Mladost district. Conveniently close to LIDL, BILLA, Fantastico and public transport links it offers one of the only locations where living and commuting can be achieved without a car. Tenant demand is higher nowhere else in Sofia.

Higher salaries and greater convenience result in the near immediate rental of these properties at rates unseen elsewhere in comparable areas of Sofia. With only 1960's communist blocks as alternatives, for those who wish to walk to work a higher rent is a small price to pay.

The apartment is sold unfinished for 39,900 EUR

The pictures show the finishing of a similar apartment, total finishing works cost 8,500 EUR and include: kitchen with built-in appliances and breakfast bar - oven, ceramic hob, washing machine, fridge, dishwasher microwave, 3 bar stools, dining table with 4 dining chairs, seating area with corner sofa, 32 '' LCD flat screen TV and air-conditioning.

Total investment inclusive transfer fees (1450 EUR) - 49 850 EUR, rental income - 300 EUR per month, 3600 EUR per year.

 

Gross ROI - 7.2 %

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