Lorgues Building

Property Description

Investment property. 5 apartments / 5 cellars / 3 garages. Building in good condition, in newly paved streets of the old village, easy access from the village car parks. Rental summary: Lot 1 Apartment F2 rented Eur478.74 Lot 2 Apartment F3 rented Eur641.44 Lot 3 Apartment F2 rented Eur573.83 Lot 4 Apartment F2 vacant potential Eur460.00 Lot 5 Apartment F3 rented Eur696.12 Garage 1 occupied by owner Potential rent Eur80.00 Garage 2 occupied by owner Potential rent Eur80.00 Garage 3 occupied by owner Potential rent Eur70 Total potential: Eur3,081 monthly excluding charges, i.e. Eur36,961 per year Gross profitability: 9.29% Property tax Eur3,556 Non-occupant owner insurance EUR900/year i.e. A net monthly income of Eur2,708, representing a net profitability of: 8.16% after deduction of all charges. A loan simulation on the Anil website shows a monthly payment of Eur2,369 for a total loan of Eur398,000 over 20 years with an Apr of 3.863%. Based on this scenario, there will be a profit of Eur2,708 - Eur2,369 = Eur339 per month, or Eur4,068 net per year from the first year.