A Stellar Opportunity to Own a Paris Pied-à-Terre with Guaranteed Revenues

We’re down to the wire in saying so-long to the year 2016 and many may already be thinking about their new year’s resolutions. No doubt, from the massive amount of emails I am getting, making a property purchase in France seems to be at the top of the wish/resolution list for Francophiles who recognize a good investment when they see one.

May I remind you that the stars are aligned to make such an investment. Interest rates are under 2% here in France (we have one client who scored a rate of 1.4%!) and the rate of exchange dollar to euro is under $1.05 (as of this morning). Prices are on the rise in Paris, so before they progress too far, this is the best timing to take advantage of this stellar moment.

One particular opportunity has arisen from our contacts with the American community. A North American woman who has lived in Paris a very long time and in the same particularly special apartment for many of those years got news recently from her landlord that she wanted to sell the apartment. By law, the landlord has to give the tenant first right of refusal (as we wrote about last week in FPI), and try as she might, she wasn’t able to get financing to purchase the property. Naturally, she doesn’t want to leave the apartment, so her options are to:

* Find a buyer willing to let her continue to rent for years to come
* Find a co-buyer with whom she could share the purchase
* Find a buyer willing to entertain a lease-to-purchase so that they hold the mortgage and the lien on the property while she pays rent and interest toward eventual ownership

All of this has to happen very quickly, because the seller has buyers held at bay waiting for the tenant to confirm or deny her purchase.

The apartment is one of those star-quality properties we often don’t come across — and that’s what makes it an exceptional investment. For someone who wants to take advantage of this stellar moment, but isn’t ready to move into it yet themselves, it’s perfect — it comes with a built-in tenant that is virtually guaranteed to be hassle-free. She pays approximately 1,000€ a month rent plus utilities plus the annual “taxe d’habitation” (about 350€)

Located adjacent to the Eglise Saint Paul in the 4th Arrondissement, with an entrance on rue Saint-Antoine. The apartment is on the 5th floor of an 18th-century building, with an elevator, with fabulous views of Le Marais and the Eglise  from five large windows, both north and south. There is an entry/foyer, large separate kitchen, bath, living room and bedroom — all in 33.5 square meters. There are two fireplaces and with a bit of outfitting, they would be workable. None of the walls are supporting, and therefore the configuration/floor plan is completely open for change, but the current tenant has no need for update — for her, the apartment is perfect as is.

The seller is asking 390,000€ net + a finder’s fee of 10,000€ paid to the agency (Adrian Leeds Group), therefore a total investment of 400,000€. At under 11,950€ per square meter, this is a major bargain for this location and quality property. The “ravalement” (resurfacing of the exterior of the building) was recently done and therefore is an expense the buyer would not incur for quite a while. Repairs to be voted in the near future (in the next 3 to 10 years) include a repainting of the stairwell (yes, it needs it!) and repairs to the roof. (Note: the ownership of any property includes such ongoing maintenance.)

Do not hesitate in making a decision NOW to purchase this fantastic property — because if you do, the American tenant risks losing her lovely home in Paris and you risk losing a stellar opportunity.

If you are a serious buyer and either have the cash (400,000€ + 7% closing costs) or the ability to get a mortgage in France (we can help you arrange that), contact me immediately at [email protected]

A bientôt,

Adrian Leeds

The Adrian Leeds Group

 

 

 

Respond to Adrian: [email protected]

 

 
 
 

P.S. We will assist the buyers from beginning to end of this transaction, provide the due diligence, resources and necessary documentation — plus keep in mind that there is a 10-day “cooling off” period AFTER the signing of the pre-sale agreement within which the purchase can be fully retracted. Therefore, you have nothing to lose by making a full price offer (the only offer possible in this case) and securing the property for your own purchase and pleasure. Don’t wait. Contact me NOW!: [email protected]