Investment apartment with strong cash flow, 3 rooms, 79 m², 1972, Siilinjärvi

An excellent investment apartment for auction, located in Siilinjärvi next to Kuopio!

This property is a strong package for a property investor in terms of the apartment, the housing company and the location;

Apartment:

-Good through-apartment layout with a glazed balcony

-The apartment is in basic condition, making it well suited for renting

-There is a limited supply of 3-room apartments in the area -> easy to let

Housing company:

-Extensively renovated in 1997-2001 (see maintenance needs report)

-Security and cost benefits from a large number of units (101)

-No significant repairs are planned for the housing company in the long-term maintenance plan

-Debt-free housing company with well-functioning administration

Area:

-Basic services, good transport connections, sports facilities and a school nearby

-Siilinjärvi is a municipality with net population growth, 20 minutes' drive from Kuopio

-The property is located only 2 km from Siilinjärvi town centre

-The area is ideal for families with children and for company rentals

The apartment is sold rented at EUR 595/month + utilities. Similar apartments in the same building have been rented for around EUR 680-700/month, so there is clear room for rent growth. The property agent's valuation is EUR 600/m², i.e. EUR 47,400; the document is available on request. At the current rent level, the property offers rental income of EUR 2,589.60/year, and at a realistic market rent more than EUR 3,500/year.

At present, there are only eight 3-room apartment blocks for sale in Siilinjärvi, so there is a clear shortage of comparable properties on the market.

Further information and sales:

Jyri Ekman, MSc (Eng.)

0405145891 // WhatsApp

jyri.ekman@gmail.com