Two Bedroom Renovated Apartment Downtown Bucharest - Icoanei Neighborhood
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- Usable Internal Surface (sqm): 112
- Bedrooms: 2
- Kitchen: Closed
- Outdoor area: Yes (balcony)
- Security: No
- Bathrooms: 2
- Reserved parking: Yes
Property Description: 2 Bedroom apt with a large double-livingroom, closed kitchen, spalatoria (room for washing, drying and ironing clothes), two bathrooms (bathtub and shower), balcony and a small lodgia (balcony off the kitchen). Lots of storage spaces and closets throughout. Kitchen has German hardware. Renovated to a very nice standard by the owner who lived in the apt with his family for six years, before moving out of the country and now interested in selling. We rented this apt to an American teacher for 800 Euros per month so we know first hand the attraction and value as a rental and at this price it represents an attractive 5.6% rental yield. The apt comes with a parking space (rare in this neighborhood). Building is a 1946 construction in a Moorish style with wide and naturaly illuminated common areas. 3rd and top floor of the building. The roof is new. In addition there is a storage room in the basement. Building will need some improvement to the common areas to make it International Premium and this will be the responsibility of every landlord in the building to contribute. we like this as an investment based on both the rental yield (as mentioned) and the capital appreciation which we think is based on the location, layout and attractiveness of the building. Unlike a number of the older buildings in the city this apt has no legal ownership issue and the building has no seismic risk (in fact in houses two architecture professors and a architectural engineering firm!).
Neighborhood Description: Icoanei Park neighborhood; our favorite residential area due to the architecture, parks, restaurants and walking proximity to both the cultural and entertainment centers of Bucharest. This is a seven minute walk to the subway in Piata Romana.
Property Description: 2 Bedroom apt with a large double-livingroom, closed kitchen, spalatoria (room for washing, drying and ironing clothes), two bathrooms (bathtub and shower), balcony and a small lodgia (balcony off the kitchen). Lots of storage spaces and closets throughout. Kitchen has German hardware. Renovated to a very nice standard by the owner who lived in the apt with his family for six years, before moving out of the country and now interested in selling. We rented this apt to an American teacher for 800 Euros per month so we know first hand the attraction and value as a rental and at this price it represents an attractive 5.6% rental yield. The apt comes with a parking space (rare in this neighborhood). Building is a 1946 construction in a Moorish style with wide and naturaly illuminated common areas. 3rd and top floor of the building. The roof is new. In addition there is a storage room in the basement. Building will need some improvement to the common areas to make it International Premium and this will be the responsibility of every landlord in the building to contribute. we like this as an investment based on both the rental yield (as mentioned) and the capital appreciation which we think is based on the location, layout and attractiveness of the building. Unlike a number of the older buildings in the city this apt has no legal ownership issue and the building has no seismic risk (in fact in houses two architecture professors and a architectural engineering firm!).
Neighborhood Description: Icoanei Park neighborhood; our favorite residential area due to the architecture, parks, restaurants and walking proximity to both the cultural and entertainment centers of Bucharest. This is a seven minute walk to the subway in Piata Romana.
