apArts in Parnu

Name: Sales in apArts started!
Start: 2022-03-10T06:38:41.041157+00:00
End: 2023-12-31T23:59:59+0000
Location: apArts

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Project info

Object ID: 18980

Finished at	December 2022
Price, m²	From 3975$
Housing class	Comfort
Buy online	Details
Installment plan	—
Bank mortgage
Property type	Aparment building
Square	from 22.00 m²
Floors	5
Apartments	58
Condition	Turnkey
Construction type	Monolyth
Security	—
Conveniences	Parking Kids playground Near school Near kindergarten Near supermarket Near hospital
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Personal discount certificate 300$
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Return on investment for apartment

with price

8,103$

Rental income

1,103$

Management

689$

Utilities

405$

5% Income tax

5,906$

Net profit

Month	Days in month	Occupancy, %	Occupancy, days	ADR	Total
January	31	32%	10	25$	250$
February	28	35%	10	25$	250$
March	31	25%	8	27$	216$
April	30	26%	8	35$	280$
May	31	51%	16	35$	560$
June	30	80%	24	38$	912$
July	31	87%	27	55$	1485$
August	31	87%	27	70$	1890$
September	30	66%	20	45$	900$
October	31	64%	20	35$	700$
November	30	40%	12	25$	300$
December	31	38%	12	30$	360$
Total	365		194		8103$
Average		52%		37$

Total invested

87,450$

Net profit

5,906$

Payback period

10.8 years

Avg property value increase per year

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About the project

Located in the heart of Pärnu, the apartment hotel—apArts—is housed in the former Museum of New Art building. The building received a new look by the well-known and recognized architect Kalle Vellevoog. The interior architect, Tiiu Truus, created a tasteful and practical interior design.

A new two-storey section was added to the reconstructed six-storey building. The building has a total of 58 apartments with balconies and 2 commercial spaces ranging from 21 to 95 m2. Apartments on the first and sixth floor of the reconstructed section have terraces with sliding doors and glass railings. High ceilings make the apartments spacious, and the natural oak parquet of the floors adds coziness.

The apartments are well suited for a holiday home, as well as for rental. The laundry service and the keyless smart locks of the apartments make the management of short-term rent extremely convenient and easy. The spacious lobby and gallery are furnished functionally as comfortable spots for meetings and, if desired, for working.

There are bicycle rooms in both sections of the building for the convenient storing of summer bikes.

Parking spaces for cars are located in the underground garage as well as in the courtyard. There are also additional storage rooms and an elevator.