The building that was sold in South Tel Aviv/Zahar Akilov
An interesting deal for a 3-story residential building in south Tel Aviv, which was signed in the last few days, illustrates the opportunities that exist these days, against the background of the war, in the apartment market.
The transaction, which was carried out in cooperation between two real estate brokerage offices in the RE/MAX network, was closed within only 35 days from the moment of its publication on the market. It is a 3-story building in the neighborhood of 20 Kiryiti Street, in the Beit Ya'akov neighborhood in south Tel Aviv that was sold for NIS 6.4 million .
"In recent years, the sellers offered the building at a starting price of approximately NIS 8 million, last month they decided to offer the property at a price of NIS 6.5 million and the deal was quickly closed in only about a month," explains Zohar Akilov, Mary/MaxWIN real estate consultant, who represented the sellers.
The building covers a plot of 251 square meters, and includes a total of about 260 square meters of built-up area divided into 5 housing units. There is a front yard associated with one of the apartments with an area of 45 square meters, and a common space of the building on the ground of about -124 square meters.
South Tel Aviv (another residential building in the area)/Reuven Castro
It is worth noting that the building has rights to build another 40 square meters, on the roof. The ground floor level is divided into two apartments with 2 rooms each with a yard of 45 square meters, for a total of 82 square meters.
On the second floor, a 2-room apartment and a 2.5-room apartment, with a total of 101.6 square meters, on the third floor, a 3-room apartment with an area of 78.2 square meters, including a living room and a sun terrace with an area of 10 square meters.
Itay David Mary/Max Ocean who represented The buyers: "This is an excellent deal for investors.
All the housing units are now rented for about NIS 20,0000, which produces a yield of about 3.8%.
We anticipate continued significant price increases in the future in South Tel Aviv.
The more favorable prices in recent times allow investors as well as housing improvers to find deals that will yield them a large return down the road."
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