Income-producing, pre-let storage unit with modest maintenance charges in Eira, Helsinki

Income-producing storage unit with modest maintenance charges in Eira

For sale: a warm, already-let 30 m² storage unit in Eira at Munkkisaarenkatu 8. The unit has an excellent layout and can be made even more functional by removing the lightweight partition wall in the middle if required. The space is located in the building's basement and can be accessed either via a separate basement entrance from the inner courtyard or through the residential building's main entrance. The attractiveness of the property is increased by a WC in the basement corridor. Ventilation in the unit is also adequate, allowing its use as a workspace.

The monthly rent for the storage unit is €250/month. For example, at a purchase price of €26,000 the rental yield would be an attractive c. 9%. Such yields are rare in the central city area.

Lease and maintenance charges

The unit is let on a rolling (open-ended) lease. The lease began on 19 June 2025 and the tenant is a financially stable restaurant. Rent is €250/month + electricity (according to consumption). The maintenance-charge coefficient for storage units is 0.25, which keeps the maintenance charges very modest. The maintenance charge is €56.25/month and the financing charge is €113.25/month, i.e. a total company charge of €169.50/month.

A deposit of one month's rent (€250) has been placed as security for the lease and the notice period is two months for both the landlord and the tenant. Thus the unit can be taken into personal use quickly if needed.

Housing company loans

The building company has carried out regular works and no major renovations are expected in the near future. When calculating loan shares for the company's renovations, storage units' share is only 0.25-fold, which guarantees that maintenance charges remain low.

There is currently a housing company loan of €11,194.87 attached to the storage unit, which consists of the following works:

- Consolidation of maintenance loans, remaining share €380.69 - €8.25/month

- Façade loan, remaining share €3,750.24 - €28.50/month
- Pipe renovation, remaining share €3,231.70 - €42.75/month
- Courtyard deck repairs, remaining share €3,832.24 - €33.75/month

Loans are amortised monthly via the financing charge, which amounts to €113.25/month. As loans are repaid, cash flow will improve further over time.

Housing company

As Oy Munkkisaarenkatu 8 is a residential apartment building built on its own plot in 1912. The company comprises two buildings and contains 53 apartments and 10 storage units.

Planned works:

Minor roof repairs to building A – 2025

Basement repair survey/planning – 2025 (message from the property manager received on 5 January: "According to the information I have, these were water leaks in building A's basement, which have now at least partly been resolved.")

Inspection of cesspits – 2025–2026

Bicycle shelter and courtyard plantings – 2026

Completed works:

2024 Duct cleaning of ventilation channels

2022–2023 Replacement of the courtyard deck

2020 Painting and refurbishment of stairwells

2019 Replacement of district heating equipment and basic balancing of the radiator network

2018 Repair of façades, balconies and windows

2018 Roof painting

2014–2015 Building A: sewer relining, electrical risers, replacement of water pipes; bathroom renovations in both buildings

2012 Bathroom condition survey

2011 Maintenance painting of window interiors, building A

2008 Attic balconies

2008 Roof (building A)

1995 Replacement of district heating equipment

1988 Exterior painting and basements

1987 Refurbishment of building B (pipes and electrical risers)

1985 Courtyard waterproofing and basements

Location

The storage unit is excellently located at Munkkisaarenkatu 8, right next to Helsinki city centre. The area has good transport connections by car and public transport. For loading and unloading, a car may be brought into the building's inner courtyard close to the entrances.

A rare asset with strong rental yield. Depending on the purchase price, the yield can be very high.