For sale Building, Budapest, Pest, Hungary, Budapest, Nagyvárad sq. - Haller street

For sale - Cod. 41674

• Tipology: Building
• Area: 3.470 m²
• Rooms No.: 88
• Floor: 1
• Publication date announcement: 07/02/2022

At least 7-8% annual return is achievable! (Depending on the
type of operation and occupancy.)

In the 9th district, on the outskirt of the downtown, near to the Nagyvárad square and the Haller street, a 5-STOREY, 3.470 m2 NEW (2017) building with 88 residential units and 23 parking spaces (in indoor garage) and with an elevator is for sale. (The whole building.)

It has been operating as a tenant house since it was built. (The property deed lists it as an apartment hostel.)

The modern building has 1, 2 and 4 person accommodation units, all with en-suite bathrooms (with shower) and kitchenettes. (8 single, 74 double, 5 quadruple units, plus 1 office.)
The accommodation units have typically 17, 27 and 40-60 m2 areas.
Most of them have a balcony. Tenants living in the units without balconies can enjoy the outside air on the common terraces on the upper floors or in the inner courtyard.

On the ground floor, apart from the apartments, there is an office, a boiler room and a garage.
Above, on each floor, in addition to the residential units, laundry rooms has been also set up.
The mechanical installations are located in the attic, together with a few other residential units.

Thanks to the nearby Nagyvárad Square metro station and the 2 major universities (medical and public universities) within walking distance, it operates at almost 100% occupancy.

It can be operated with other functions: E.g. if we rent out the units to companies who can use them either as offices or even to accommodate their staff, we can have around 7-8% return on investment. But it can also bring such kind of return as a nursing home, for example, at least.