Moriah 14-14a in Haifa

Name: 📣 300$ — discount certificate
Start: 2020-05-25T09:20:23.435422+00:00
End: 2023-12-31T23:59:59+0000
Location: Moriah 14-14a

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Project info

Object ID: 7629

Finished at	September 2020
Price, m²	From 6200$
Buy online	Details
Installment plan	—
Bank mortgage
Property type	Aparment building
Floors	6
Apartments	19
Condition	Turnkey
Construction type	Monolyth
Security	—
Conveniences	Parking 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

186,000$

Net profit

5,906$

Payback period

23.0 years

Avg property value increase per year

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About the project

A combination of luxury apartments so close to the Haifa cultural center, on the Moria axis - a short walk from the Carmel Center, close to the cafes, cultural institutions, prestigious schools, selected shopping centers and major transport hubs create a unique and prestigious residential experience.

The building (the residential complex) that includes the three buildings on 14 Moriah, 14A and 16th Street in Haifa was built in the late 1940s and early 1950s. The building in Moriah 14A consisted of three large three-storey apartments above the ground floor.

Despite the excellent location of the building, problems with lack of parking, lack of elevator and the excessive size of the apartments, made it very difficult for the occupants.

The main challenge of the entire building was finding a parking solution. Architect Simona Sorin has presented an extraordinary solution, by designing a shared parking approach for the three buildings. This solution requires a change of public footpath as well as passage through public space.

This solution raised many legal difficulties as it required the consent of a vast majority of tenants in the three buildings.

After a particularly lengthy process involving 3 neighboring committees, appeal committees, mediation meetings and intervention by city engineer Ariel Wortman, the unique solution was accepted and the project got underway.

The company is preparing for the completion of the front building, which in addition to the addition of 4 apartments has also been partitioned of the existing apartments.

There is no doubt that the value of dwellings in the place has increased by many tens of percent, in addition to the strength and safety of the structure which has gone up indefinitely.

Developer

Eshet-Sorin Initiative and Construction Ltd. specializes and focuses on the initiation, planning and execution of TAMA type 38 projects, mai…
Details about Eshet-Surin