Complex of wooden houses

Raua 59, Tallinn, Estonia (Show on map) House

Object overview

From old house to new residential apartments

Address: Raua 59/61, Tallinn

Project type: Rental/Development

Purchase date: 05/2016

Exit date: 03/2017

Investment amount: 1,230,500€

Net rental yield earned for investors: 15.1%

We were excited to invest into this diamond in the rough property located on the outskirts of the charming Kadriorg neighbourhood in 2016. Our experienced team took on an old building with 13 apartments, one garage and lots of character. Despite its shabby condition, the old property generated an attractive monthly rental income. Thanks to our property management team, we were able to rent out the apartments whilst planning the development of the property.

We knew exactly what to do in order to secure the necessary permits for the demolition of the existing buildings. After obtaining the detailed planning for the construction of a new apartment building in this central area of Tallinn, we decided to exit the investment. We sold the property with all the necessary permits and detailed planning to a well-known development company and made a healthy profit. The property is now on its way to becoming one the most attractive buildings in the area.

Investment case

Financials

€1,230,500 Latest Valuation
12,305,000 Shares
=
€0.10 Latest Share Valuation
Latest Property Value €1,230,000
Amortised Purchase Costs €500
Latest Valuation €1,230,500

Safety guaranteed

This object has passed Reinvest24 test and secured by Collateral Agent mortgage.

Object price €1,230,500
100% funded
Net Rental Yield 15.10%
Gross Rental Yield 19.39%