The investment opportunity features a project located near the Riga city center, Latvia, on the Katolu street 9 an apartment building with 30 rental flats. As the number of apartments is limited and the building is already fully rented out, this development would be a lucrative and safe investment.
Starting from acquisition there will be steady cash flow which (after expenses) will be distributed to all investors and generate approximately 5.3% cash on cash yield p. a. from invested amount. The monthly rental income is expected to be 10 000 EUR
SIA Ziedondarza dzivokli, a company founded specifically for the execution of the current Project (hereinafter: Sponsor) intends to raise EUR 1,650,000 to acquire, refurbish and sell the apartments.
To ensure the successful execution of the Project, Crowdestate has partnered up with SIA Eiromaja, who has associated with previous owner of the property and has been an active developer in the neighborhood.
The expected duration of the Project is up to 37 months and the expected return on invested capital (IRR) is 7.19% per annum.
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