The property has been sold!

Details:
Residential building for sale in Thessaloniki, Greece.
Excellent opportunity!!! Near the University.

Two renovated and rented buildings for sale near the University in the vibrant and youthful city of Thessaloniki

Building No. 1:

Location: Opposite the University
Size: 500 sq.m.
Number of floors: 3
Apartments: 12 renovated and furnished, approximately 25-35 sq.m. each

Rentals: All apartments are currently rented under contract:
3 apartments (studio) x €370 = €1,110 per month
9 apartments (2 bedrooms) x €420 = €3,780 per month
Monthly rental income = €4,890
Annual rental income = €58,680

Asking price for the property: €1,100,000

Notes: On the ground floor there is a common room for student use that can be converted into 2 additional studio apartments.

Building No. 2:

Location: 300 m from the University
Size: 500 sq.m.
Number of floors: 3
Apartments: 12 renovated and furnished, approximately 25-35 sq.m. each

Rentals:
6 apartments (studio) x €330 = €1,980 per month
6 apartments (studio) x €280 = €1,680 per month
Monthly rental income = €3,660
Annual rental income = €43,920

Asking price for the property: €1,100,000.

Total asking price for both buildings: €2,200,000 (negotiable).

Annual income from apartment rentals: €102,600.

Income from cellular antennas/solar energy: €120,000.

Total income: €222,600.

Total potential return net of all expenses including legal fees, notary, taxes, management fees: 9.2%!!!!!