Fully renovated, tenanted three-room apartment in a renovated housing company with over 10% rental yield, Jyväskylä

Bid for a fully renovated apartment in Jyväskylä’s Myllyjärvi, already rented out, in a renovated housing company!

Apartment:
For sale: a rented 74 m² through-apartment with three rooms and a kitchen in Jyväskylä’s Myllyjärvi, at Tuulimyllyntie 14 B 28. The apartment is located in Asunto Oy Jyväskylän Tuulenhuippu and is laid out as 3 rooms + kitchen + bathroom/WC + balcony. The apartment is on the 1st floor and includes a balcony and a separate walk-in wardrobe. The kitchen and surfaces were renovated in 2021, so the apartment is in good condition. The layout is practical, and the through-apartment gets light from both sides: kitchen, living room, two bedrooms, bathroom and walk-in wardrobe form a functional whole. The 74 m² three-room apartment offers the tenant plenty of living space and is also an easy size to let for an investor. This property is ideal for an investor looking for a fully rented, renovated apartment at a low purchase price.

The company:
Asunto Oy Jyväskylän Tuulenhuippu is a well-maintained two-building housing company completed in 1981 in Jyväskylä’s Myllyjärvi. The company has a total of 43 apartments and 43 parking spaces, and it is heated by district heating.

The company has carried out numerous repairs over the years: in the extensive renovation in 2002, among other things, the drains and water pipes, bathrooms and electrical system were renewed (a more detailed list can be found in the appendices). In addition, the heat exchanger was renewed in 2023 and the drain, rainwater system and foundation wall were repaired in 2023. The company’s finances are well managed: the operating profit margin was positive in the latest financial year and the cumulative surplus of the maintenance charge was €52,902.72. Liquidity is good and the maintenance charge is moderate, €4.70/m²/month. In the coming years, according to the maintenance needs plan, the company will commission a condition assessment, clean, measure and adjust the ventilation ducts, and replace the smoke alarms in the apartments.

The city:
Jyväskylä is one of Finland’s fastest developing cities, combining a stable rental market, growing population and a strong education hub. With over 144,000 residents, the city serves as Central Finland’s economic, educational and service centre, attracting thousands of new residents each year, especially young adults, students and working-age people. The University of Jyväskylä, the university of applied sciences and numerous secondary-level institutions ensure constant demand for small and medium-sized rental homes, and tenant turnover is brisk. Employment has developed positively, and the city has succeeded in attracting new companies and investments.

Micro-location:
The apartment is located in Myllyjärvi, a pleasant and quiet area. The area offers good basic services and excellent outdoor recreation opportunities. Nearby there are plenty of outdoor areas and a beach. Keljo shopping centre is just a short walk away, with comprehensive services and shops. The windows overlook park-like views of the courtyard. Transport connections to the city centre are good both by car and by bus – the bus stop is right near the building.

Tenancy agreement:
The apartment is rented to a reliable tenant. The tenancy agreement is open-ended from 1 May 2026, and the first possible notice date is 1 March 2027. The rent is €780.00/month + utilities. The tenancy is secured by a 1 month’s rent deposit and a separate joint and several guarantee, which transfers with the tenancy agreement to the new owner when the apartment is sold – this gives the investor good protection in case of rent payment issues.

Return:
The apartment’s debt-free starting price is only approx. €49,000, i.e. €662/m², and the purchase price is an exceptionally low €17,500. After the maintenance charge, the rent yields €432.20/month, or €5,186 per year, giving a rental yield of 10.6% on the debt-free price. The return on equity is almost 24% with a purchase price of €17,500! The apartment has approx. €31,510 in company loan, which means you can get access to the property with little capital. The financing charge is booked as income in the housing company’s accounting, so the investor can deduct it in full for tax purposes.

Why would this be a good investment?

✅ Low purchase price -> high return on equity and you can get into the apartment with little money

✅ Kitchen and surfaces renovated in 2021, well-kept through-apartment with three rooms

✅ Pipe and electrical renovation completed in the 2002 major renovation

✅ Rental yield over 10%

✅ Already rented to a reliable tenant

✅ Location close to Keljo services

✅ Financing charge booked as income -> full tax deduction

Buy this renovated, already rented investment apartment at a good price! If you have any questions, please do not hesitate to contact us.