A new investment opportunity “Kustaantie” with the annual return of 13% will be launched soon! Be quick to make your investment, because there are allready 100 people ready to invest in this project!
Start investing with Bulkestate from only 50 EUR
Launch time: Wednesday / February 26, 2020 / 12:00 (EET)
Kustaantie (Finland)
Interest rate: 13%
Investment target: 250 000 EUR
Loan period: 18 months
LTV: 63%
Security: Mortgage3
Object
The property is located at Kustaantie11-19 on the outskirts of the city of Viitasaari in Central Finland. The apartment buildings are only a 5-minute drive away from the city centre which offers many shopping and entertainment opportunities for its residents.
The property consists of 5 buildings with 18 apartments in total and a shared sauna. The buildings are located on a quiet residential street in a beautiful area with only five minutes’ walk away from the countries 9th largest mainland water reservoir – lake Keitele.
The buildings were built in 1978 and they consist of 10 apartments with a living area of 70 sq.m, and 8 apartments with a living area of 35 sq.m. The total living area of all buildings combined is 1224 sq.m. and the houses are located on a land plot with a total area of 6300 sq.m.
The development project
The company already owns the property and funds will be used to fully renovate the apartments.
The current average housing price per square meter in Viitasaari is 1082 EUR. After the renovations will be carried out, it is expected that the value of the 35 sq.m. apartments will be around EUR 32 000, and the value of the 70 sq.m. apartments will be around EUR 73 000, hence, the total revenue from the project is expected to be around 986 000 EUR.
The loan target
The loan will be used for the renovation works of the buildings and the repayment to the investors will be made from the revenue generated from sales of the apartment units. The company mentioned the possibility of an earlier repayment, and it could happen as soon as the revenue from the sale of the apartments will cover the loan amount.
