Note: The area can be nearly doubled.

Description

Income property in Austria (Vienna), for renovation (floors can be customized). Land plot area: 810 m² Current property area before renovation: 1,083 m² Property area after renovation: 1,995 m² Currently, the building has 12 apartments and two commercial spaces on the ground floor. After renovation, the number of apartments will increase to 20-22. The building was constructed in 1905 and is in good condition. The building is 82% vacant (886 m²) and only three apartments are currently occupied. Two tenants' leases will expire in April 2020, adding another 208 m². One lease, for a 50 m² apartment, is indefinite. As of January 22, 2020, an architectural plan for the renovation has been prepared, which includes expansion and the addition of two upper floors. After renovation, the property area will increase to 1,995 m² (almost doubled). Once the renovation is complete, the apartments can be rented out or sold. Price: €5.075 million Nearby amenities include: restaurants, cafes, a bakery, a school and kindergarten, a university and higher education institution, a bank branch and post office, a supermarket, and a police station. Neutral photo available.