Vidauban Income-Generating Building - 4 Two-Room Apartments with Loggia

Property Description

An investment opportunity that is particularly attractive with this income-producing building consisting of four two-room apartments, all currently rented and equipped with air conditioning.

Thanks to its rental income and its sale price of 298,000, the building can enable theoretical self-financing over 20 years (subject to financing conditions).

Ground floor? F2 of 35.76 m²
Rented at 506.76 per month, plus 30 in expense provisions.
It includes a living room with a 22.78 m² kitchen, a 9.39 m² bedroom, a 3.59 m² bathroom with WC, and an interior loggia of 4.70 m².

First floor? F2 of 31.58 m²
Rented at 506.76 per month, plus 35 in expense provisions.
It includes a living room with a 19.22 m² kitchen, an 8.46 m² bedroom, a 3.90 m² bathroom with WC, and an interior loggia of 4.70 m².

Second floor? F2 of 31.77 m²
Rented at 506.76 per month, plus 25 in expense provisions.
It includes a living room with a 19.37 m² kitchen, an 8.50 m² bedroom, a 3.90 m² bathroom with WC, and an interior loggia of 4.70 m².

Third floor? F2 of 34.78 m²
Rented at 568.69 per month, plus 25 in expense provisions.
It includes an entrance of 2.13 m², a kitchen of 3.81 m², a living room of 15.20 m², a 9.43 m² bedroom, a 4.21 m² bathroom with WC, and a pleasant rooftop terrace of 4.70 m².

Financial data:
Monthly rents excluding charges: 2,088.97 (i.e., 25,067.64 gross / year)

Detail of the 271.07 in monthly charges borne by the owner:
Insurance: 73.23
Electricity for common areas: 21.26
Monthly property tax: 176.58

Thus a net monthly rental income of: 1,817.90 (i.e., 21,814.80 net / year)

For a sale price of 298,000, net profitability is: 21,814.80 ÷ 298,000 = 7.32% net of these charges.
As a reference, financing 298,000 over 20 years at a fixed rate of 3.50% would represent a monthly payment of about 1,728 excluding loan insurance.
The net monthly rental income of 1,817.90 would thus cover this installment from the first year, with a theoretical excess of about 90 per month.

Fully rented building, immediately cash-flowing, requiring no tenant hunting.

Indicative simulation not constituting a loan offer or contractual commitment. The profitability is calculated before taxes, financing costs, borrower’s insurance, potential vacancies, maintenance works, and acquisition fees. A loan commits you and must be repaid. Check your repayment capacity before committing.
Condominium of 4 lots - including 4 residential units.