For sale: Investment studio apartment completed in 2018, located next to the University of Vaasa
A really neat and already rented investment studio apartment in an excellent location with a monthly cash flow of €402 is now for sale!
Debt-free price €82,000
Selling price €81,000
Cash flow / month €402
Rental income 6.2
Information about the apartment
| Address | 25-27 Pursimiehenkatu |
|---|---|
| Apartment | B 37 A |
| Type | 1 bedroom + kitchen |
| Area | 29.5m2 |
| Rent | 570 € |
| Maintenance fee | 147,2 € |
| Financial compensation | 21,2 € |
| Debt ratio | 900 € |
| Status |
Free
|
Investment studio apartment completed in 2018 with good cash flow
- Neat 29.5 m² studio apartment with no renovation worries for a long time
- Due to its location and condition, the apartment is highly rentable!
- This well-maintained housing company is located very close to the University of Vaasa campus (less than 600 meters away).
- Vaasa is a vibrant university city that offers excellent opportunities for real estate investors.
- With 70% debt leverage and 30% self-financing, you will achieve a 13.6% return on equity and positive cash flow.
The housing company is located in the popular residential area of Palosaari in Vaasa, a stone's throw from the University of Vaasa campus and a short distance from the center of Vaasa. The housing company was completed in 1996 and is located on leased land, with a contract valid until June 30, 2067.
The apartment for sale was added to the building in late 2010 and is therefore still in very good condition. The building is heated by district heating.
The maintenance needs assessment reveals the following issues for the next five years:
- 2024:
- Facades: Replacement of element joints.
- Roof structures and roofing with accessories: Roof repair/replacement.
- 2025:
- Special construction work: Energy efficiency project/heating method survey (including solar panels in the survey).
- 2026:
- Ventilation system: Cleaning and adjustment of ventilation ducts and cleaning of replacement air valves.
- Charging electric cars: Charging points for electric cars (survey).
- Basic condition assessment of the property: Condition assessment of the property.
- 2028:
- Elevators: Elevator repair survey.
Significant maintenance and renovation work carried out in the company:
- 2022:
- Outbuildings, waste containers, fences, retaining walls, stairs, etc.: Replacement of fences (2 pcs).
- Outbuildings, waste containers, fences, retaining walls, stairs, etc.: Renovation of temporary fences in the backyards of apartments.
- 2020:
- Exterior doors: Renovation of apartment doors in the corridor.
- 2017:
- Yard area pavements and surface structures: Renovation of the inner courtyard.
- 2016:
- Ventilation system: Cleaning and adjustment of ventilation ducts and machinery.
- 2013:
- Painting: Partial painting of stairwells.
- 2012:
- Heating system: Renovation of district heating transfer automation.
- Outbuildings, waste containers, fences, retaining walls, stairs, etc.: Painting of bicycle and outdoor equipment storage and waste shelter.
- 2011:
- Locking: Lock renewal for Sento keys.
- 2007:
- Ventilation system: Cleaning and adjustment of ventilation ducts and machinery.
- 2003:
- Painting: Partial painting of stairwells.
You can find more detailed information and materials about the housing company here.
Photos of the property for sale
Floor plan of the apartment
Apartment condition points
| Average condition score for the apartment | 4 |
|---|---|
| Average surface area of apartment | 4 |
| Average condition of the kitchen | 4 |
| Average condition of bathrooms | 4 |
| Description | Condition | Impact on re-renting |
| 1 | Broken and requires immediate replacement or repair. | This will likely affect re-renting. |
| 2 | Clear signs of wear, but still usable. | May affect re-renting. |
| 3 | In habitable condition and meets the tenant's needs. | Unlikely to affect re-rental. |
| 4 | Very neat and in good condition. | Unlikely to affect re-rental. |
| 5 | In new condition. | Does not affect re-renting. |
The condition scores for each living space are averages based on detailed condition scores for the different rooms in the apartment. Check out the detailed condition scores for the apartment in the apartment materials!
Location of the destination on the map
Vaasa as an investment city
Vaasa – A maritime investment gem in Ostrobothnia
Vaasa, a lively university city with over 67,000 inhabitants, offers attractive opportunities for real estate investors. The city has grown steadily in recent years, and the outlook for the future is bright. According to Statistics Finland, Vaasa's population grew by approximately 0.5% in 2022, and preliminary data for 2023 indicates that growth has continued at the same pace. According to the city of Vaasa's own forecast, the population is expected to grow by as much as 1,000 people annually in the coming years. This population growth will increase demand for housing and may raise rents in the future, making it an even more attractive investment destination. Vaasa's location on the coast of the Gulf of Bothnia, combined with its strong economy and diverse services, makes it a unique investment destination.
Why choose Vaasa for real estate investment?
Vaasa is a city that offers both stability and growth opportunities. Population growth and positive economic development create a solid foundation for housing demand. New jobs and investments attract new residents to the city, further increasing the need for housing.
Vaasa is also known for its beautiful nature and proximity to the sea. The diverse outdoor and recreational opportunities attract residents and increase the city's appeal. Vaasa combines the pulse of the city with the tranquility of nature in a unique way.
The housing market in Vaasa offers a wide range of options, from new developments to older apartments, and prices are competitive. Every investor is sure to find a property that suits their budget and goals. Vaasa is a city that offers real estate investors the opportunity to be part of its success story and benefit from a stable and growing market.
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Aarne Urvas
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