Description

Apartment house, in the centre of Prague (Zizkov).
Four-storey brick building, with an area of 876 sq. m. (together with the add-in). The house is in good condition, but requires reconstruction with a view to selling object in apartments. The total number of apartments in the house – 8, plus a finished project to add another 7-storey apartments. Total area of apartments including add-ons - 744 sqm, plus 2 commercial spaces on the ground floor - 121 sqm, and a basement - 57 sqm Finished project provides for the add-on, seven-storey apartments. Basements are reconstructed under a Parking (5 places). On the ground floor you can make an apartment, with an area of 47 sq. m plot in the yard.
The calculation of return when you resell the object to the apartments. In this area at the moment, the cost of 1 sqm one bedroom and two bedroom apartments, renovated, is from 2 900 to 3 321 euros. The following are the calculations for cost of sales 3 000 Euro per 1 sq. m. of living area. 744 sqm – total area of apartments together with the add-in. 744 x 3000 = 2 232 000 euros. 47 sqm apartment on the ground floor + area (project). 47 sqm x 1624 (the cost of 1 sqm on the 1st floor) = 76 328 euros. 73,5 sq. m. commercial space (restaurant) on the ground floor. Estimated selling price per 1 sqm = 1 440 euros. 73.5 x 1440 = 105 840 euros. Total: 2 414 168 Euro 4 % (sales tax) = 2 317 601 euros. 2 317 601 euros (income) - 1 911 208 euros (flow) = 406 393 euros (net income). 21.2% of the yield at further sale, after the reconstruction.
The house is located in the district Prague 3, Zizkov. This is one of the most beautiful and prestigious areas of Prague as it is located near the centre, but is very quiet and comfortable, with a full and highly developed infrastructure. This area is very developed. It has many restaurants, shops, public transport in the form of trams and buses, shopping center flora. From this facility to Wenceslas square about 15 minutes walk or 5 minutes by car and 7 minutes by tram.
The cost of the object 1 133 500 euros (31 400 000 CZK). Project management (full transaction processing - repair facility - rent/lease) - 2.5% of the purchase price – 28 337 euros. Renovation of existing apartments (with staircase, Elevator and heating) – 311 191 euros. Add-on seven apartments with finishing works – 338 000 euros. Reconstruction of non-residential premises – 100 180 euros. Total - 1 911 208 euros. The documents are ready to deal. Additional information is available upon request and upon the signing of the LOI by the potential acquirer.