Introduction to the Property Package

We have a property investment opportunity consisting of eight apartments that are currently rented out. These units are being sold together in a single transaction. Seven of these apartments are situated within the same housing company located in Rovaniemi, with the eighth apartment being in Mikkeli.

About Rovaniemi

Rovaniemi is a city found in Lapland, which is in the northern part of Finland. It’s recognized as a major tourist destination in Northern Europe, and tourism here has seen significant growth in recent years. The city is widely known as the official home of Santa Claus, with the Santa Claus Village attracting many visitors. Annually, Rovaniemi records over 1.5 million overnight stays. The city attracts a strong international tourist presence, particularly noted for its winter tourism activities and opportunities to view the Northern Lights.

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Beyond its tourism appeal, Rovaniemi’s significance has also grown within the security and defense sectors. Finland’s accession to NATO in 2023 has further highlighted this. Rovaniemi hosts bases for the Defense Forces, and the Lapland Air Command operates from the city. This package provides a consistent income stream from the outset of ownership, along with the potential for long-term returns.

Key Financial Figures

Here’s a breakdown of the financial details for the property package:

	With Debt	Debt-Free
Sale Price	€214.000	€248.785
Total Floor Area	383.5 m²	383.5 m²
Price per Square Metre	€558/m²	€649/m²
Annual Rental Income	€53.760	€53.760
Annual Expenses	€30.854	€23.111
Annual Net Income	€22.906	€30.649
Net Rental Yield	10.7%	12.3%

Housing Company Information

Asunto Oy Karvontie 1, Rovaniemi is the name of the housing company where most of the apartments are located. Having the majority of the units in one company simplifies management and makes operations more efficient.

The housing company has undergone several maintenance and repair projects. These include work on the heat recovery system, ventilation system maintenance, roof repairs, pipe maintenance, and inspections of the electrical systems. There is also infrastructure in place to support electric car charging. Any upcoming repairs are expected to be routine maintenance tasks.

Summary of the Property Package

This property offering includes:

A collection of eight rented apartments.
A steady stream of rental income.
A net rental yield exceeding 10% when considering the sale price with debt.
A location in a city experiencing growth in its tourism sector.
Some apartments come fully furnished, equipped with everything needed for a living space, including electronics, household appliances, bed linens, and all items visible in the presented photographs.

Additional Potential with Two Extra Apartments

There is an option to include two additional apartments in this package. These units are currently used by the owner and are not part of the existing rental income calculations. They will be available for transfer immediately following the sale.

Extensive renovations have been completed on these two apartments. This includes the addition of a glazed and heated balcony, along with a panelled ceiling in one of them.

The combined floor area of these two apartments is approximately 148 m².

Apartment 1: This unit offers 4 rooms, a kitchen, a walk-in wardrobe, a WC, and a balcony, covering 84.5 m². It is also sold fully furnished, similar to the other units, meaning it’s ready for immediate occupancy without the need for additional furnishings.
Apartment 2: This apartment features 3 rooms and a kitchen, along with a balcony. It has a total area of 63.5 m².

Based on current rental rates, the estimated monthly rental income from these two additional apartments is around €1.700.

The total monthly charges for these units are €1.170.40 when factoring in debt, and €760.00 when considering a debt-free scenario.

The sale price for these two apartments, on a debt-free basis, is €68.000.

Please note that not all photos are included in this listing. Additional photos are available upon request.

Comprehensive property documents, including the property manager’s certificate and other legal papers, can also be provided upon request.

Don’t hesitate to contact us for more information or to schedule a viewing!