MILLS-KVARTAL in Oslo

Name: Sales in MILLS-KVARTAL started!
Start: 2022-01-27T12:28:29.415658+00:00
End: 2023-12-31T23:59:59+0000
Location: MILLS-KVARTAL

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Project info

Object ID: 17588

Finished at	October 2021
Price, m²	From 9000$
Housing class	Comfort
Buy online	Details
Installment plan	—
Bank mortgage
Property type	Aparment building
Square	from 37.00 m²
Floors	7
Apartments	147
Condition	Turnkey
Construction type	Monolyth
Security	—
Conveniences	Parking Near school Near kindergarten Near supermarket Near hospital
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Return on investment for apartment

with price

8,078$

Rental income

1,103$

Management

689$

Utilities

403$

5% Income tax

5,883$

Net profit

Month	Days in month	Occupancy, %	Occupancy, days	ADR	Total
January	31	29%	9	25$	225$
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		193		8078$
Average		52%		37$

Total invested

333,000$

Net profit

5,883$

Payback period

41.2 years

Avg property value increase per year

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About the project

The Mills quarter has been a success. The project consisted of 147 exciting apartments with good architecture and attractive location. The apartments vary between 2- to 4-room owner-occupied apartments of 37 to 124 sqm.

Scandinavian Development was responsible for regulation and idea development until the project was completed. Constructive Development was responsible for project management. Both companies were involved in separate agreements.