Two fully rented apartments for sale in Raahe with rental yields of 10.23–10.93%
Debt-free apartments starting at just €25,900; with 70% financing, the return on equity is up to 29.5%! The building’s facade and roof were renovated in 2007
Price excluding debt (per apartment) €25,900
Cash flow / month 220–236 €
Rental income 10.23–10.93 %
Information about the apartment
| Address | 4–6 Satulakatu |
|---|---|
| Apartment | E24 & E25 |
| Type | 2 rooms + kitchen & 3 rooms + kitchen |
| Area | 62–76.5 sq. m. |
| Rent | 515–565 € |
| Maintenance fee | 279–344 € |
| Status |
Free
|
Two fully rented apartments in Raahe with over 10% returns
- Pre-leased apartments
- Located near good transportation links and amenities
- Roof and facade renovation in 2007
- The apartments have a rental yield of 10.23–10.93% and a cash flow of €220.75–236 per month
- Return on equity of up to 29.50% and cash flow of up to €135 per month with 70% financing*
*Loan calculated based on a 20-year term and a 3% total interest rate. The monthly loan payment, including interest, is €101.00 in this calculation. Cash flow is calculated using the formula: rent + maintenance fees + loan payment = €135.00/month
Basic information about the housing company
- Name of the housing company:Asunto Oy Raahen Satulakatu 4 and 6
- Building type:Apartment building
- Year built:1980
- Number of apartments:49
- Floors:3
- Elevator:No
- Sauna in the building:Yes
- Building material:Concrete
- Roof type:Flat roof
- Roofing material:Felt roofing
- Energy class:D2018
- Energy certificate:Yes (valid until January 15, 2036)
- Property antenna system:Cable TV
- Lot size:3,812 m² and 3,156 m²
- Land ownership:Leased
- Property Management:Raahen Talonhoito Oy
- Hosting:Oiva Isännöinti Noste Oy
- Zoning status:Local master plan (City of Raahe)
- Heating:District heating
Renovations carried out in the housing company
- 2002– Replacement of laundry equipment
- 2004– Remote-read electricity meters for homes
- 2006– Renovation of shared apartments (6 units)
- 2007– Facade renovation
- 2007– Roof replacement
- 2007– Decommissioning of the cold storage facility (Satulakatu 4)
- 2007– Replacement of HVAC units
- 2007– Replacement of metal main doors
- 2007– Replacement of plastic flooring in bathrooms
- 2007– Replacement of kitchen cabinetry
- 2007– Renovation of saunas and washrooms
- 2008– Chimney sweeping and adjustment of airflow rates
- 2009– Replacement of district heating heat exchangers
- 2011– Installation of underground waste containers
- 2011– Replacement of district heating heat exchangers
- 2012– Installation of a Siemens automation system
- 2014– Decommissioning of the cold storage facility (Satulakatu 6)
- 2023– Cleaning of HVAC ducts and adjustment of airflow rates
- 2024– Water Damage Repairs (F30/F32 and G33/G34/G36)
Maintenance Needs Assessment (2024–2028)
- Renewal of element joints
- Commissioning a condition inspection of the district heating system
- Installation of water-saving fixtures (estimated cost: €5,000; payback period: approx. 2–3 years)
- Random asbestos surveys of building components that may contain asbestos (Note: This does not exempt you from the obligations under the Asbestos Act when carrying out renovations in individual units)
Pictures of the apartments
Floor plans of apartments
Condition scores for apartments
| Average condition score for the apartment | 2,5 |
|---|---|
| Average surface area of apartment | 3 |
| Average condition of the kitchen | 2,5 |
| Average condition of bathrooms | 2 |
| 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
Raahe as an Investment Destination
Stability from steel and the potential for a green transition
Raahe, a city of approximately 24,000 residents located on the coast of Northern Ostrobothnia, is known for its strong industrial heritage and its major port. For investors, Raahe offers an attractive combination of high rental yields, moderate prices per square meter, and enormous growth potential at the heart of green transition investments.
Why invest in Raahe?
- SSAB and the backbone of heavy industry:SSAB’s steel mill is one of Finland’s most significant industrial facilities. It ensures a strong and financially stable workforce in the region, which keeps rental demand steady and predictable year after year.
- The green transition and future investments:Raahe is emerging as a key hub for the development of carbon-neutral steel production and wind power. Planned investments worth billions will bring thousands of new employees and experts to the region, putting pressure on the housing market and increasing demand for high-quality rental housing.
- High rental yields and affordable prices per square meter:Housing prices in Raahe are highly competitive compared to nearby Oulu, for example. Investors can enter the market with less capital, and the relatively strong rental market enables above-average cash flow.
- Education and services:Educational institutions in Raahe, such as the Brahe Training Center, produce skilled workers to meet the needs of industry. The city’s compact downtown layout and seaside location also make it a pleasant place to live, which supports high long-term occupancy rates for housing.
Raahe offers real estate investorsanexceptionally strongindustrial foundationcombinedwith promising growth prospects. It is an ideal destination for investors who value excellent rental returns and wish to capitalize on the industrial transformation taking place in northern Finland
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