SPECIAL EDITION: Three Great Paris Investment
Here’s your chance to take advantage of three properties in Paris we ‘just happen to know about’ that are on the market now and worth an investment!…one in chic Saint-Germain-des-Prés, another one next to Notre Dame in a centuries-old building, and a third that makes a perfect “pied-a-terre” ready to move in or rent in the up-and-coming 11th arrondissement.
HISTORIC RUE DE NESLE (6th)
Rue de Nesle is a street in Saint-Germain-des-Prés that dates back to 1607, at the same time of the development of Place des Vosges and Place Dauphine. It was formerly called Rue d’Anjou Dauphine, but its current name comes from 1867 in the a memory of the former Hôtel de Nesle. It has quite a history, starting with the 12th-century King Philippe Auguste and continuing through the centuries where soothsayer Martin lived, where the convent of Saint-Augustin existed and in 1977, under the chairmanship of Valéry Giscard d’Estaing, one of the buildings was restored and dedicated to the Gallery and Théâter de Nesle.
At the end of the street is an amazing contemporary apartment in the eaves of one of the historic buildings (3.5 floors, no lift). Completely renovated and reconstructed with central air-conditioning, the 70 square-meter apartment has two bedrooms and two bathrooms: one bedroom is in an open loft above the living room/dining room area (this can be closed off should you want to make it totally private) with an adjacent bathroom. The other bedroom has a bathroom ‘en suite’ and there is another toilet on the main level for guests.
The views from the many windows are of the rooftops of Paris and there is virtually no ‘vis a vis’ to be concerned about. Light pours in from EVERYWHERE! And the views of the interior from all the levels is exceptional. Everything is built in, luxurious and needing NOTHING!
This apartment has been an ongoing rental property for several years at 2,220€ per week with an occupancy rate of 70%, in spite of the lack of an elevator. When you’re in it, it simply ‘feels good’ — as if you never want to leave.
The current owner is asking 990,000€ including all furnishings…ready to move in, ready to rent! Need I say more?
A BARGAIN AT KILOMETER ZERO “RUE CHANOINESSE V” (4th)
If you would like to own your own “pied-à-terre,” and want it to be in the very heart of Paris — in fact, at “Kilometer Zero,” next to Notre Dame, from which all points in France are measured — a rental agency owner has one property left to sell and he wants to sell it FAST…at a GREATLY REDUCED PRICE! In fact, it’s a RIDICULOUS bargain!
He calls this one “Rue Chanoinesse V.” Located on rue Chanoinesse adjacent to Notre Dame, is a 58 square-meter two-bedroom/two-bathroom luxury apartment on the ground level of an ivy-lined paved courtyard that makes an ideal rental property with a proven successful history of revenue.
What’s most interesting about this property is that because of its ground floor location, the short-term rental of this apartment perfectly complies with city ordinances!
The asking price is an even bigger bargain now at 650,000€ (195,000€ LESS than when it was offered one year ago!) including all furnishings (!!) — 11,207€ per square meter for a property next to Notre Dame that will provide a strong ROI in a totally non-risk location!
You can leave it as is or renovate it and turn it into the jewel it deserves to be…but no doubt, this is your opportunity to own a piece of the heart of the City of Light and make an investment you’ll enjoy for years to come. I wouldn’t pass this one up, if I were you!
LE GRAND CIEL — THE PERFECT PIED-A-TERRE (11th)
A while back, we told you about the “perfect pied-à-terre” — a sweet little luxury rental property whose owners decided to say so-long to Paris in lieu of other adventures in real estate and who are willing to sell everything — lock, stock and barrel — at one attractive price for a quick sale so they can move on. (This means that as a new owner, you wouldn’t have one drop of down time. The rental revenues will flow in without losing a breath or blinking an eye, and for your own personal use, all you need to do is walk in with your suitcases and unpack.)
We had a slew of interested buyers and one person was ready to sign on the proverbial dotted line, until something tragic happened in her family preventing her from moving forward. So, it’s back on the market!
This is a major plus for a new investor. It’s totally hassle free. No worrying with renovation and not even having to think about buying linens. It’s all there, ready for you or your guests. Of course, this does not prevent you from adding your own touches!
It’s the apartment we call “Le Grand Ciel.” Located on rue du Grand Prieuré in the 11th Arrondissement (République/Oberkampf), Le Grand Ciel is a 23 square meter studio apartment in a very convenient part of non-touristed Paris with a separate kitchen and spacious bathroom. On the third floor of a recently renovated Haussmannian building, set on a quiet street just steps from from a Métro station, this is the perfect spot for living like a Parisian or taking a sightseeing trip to the City of Light.
Le Grand Ciel was completely renovated in 2009 and professionally remodeled in such a smart way that you end up with a fantastic feeling of spaciousness — also thanks to the three large traditional French windows — one in each room that make it very sunny with great views of the neighborhood.
This light and bright ambiance is perfectly punctuated by a contemporary decor using teals and turquoises to contrast with crisp cool white. A solid oak parquet floor, warm underfoot, is the perfect traditional element added to the modern and comfortable design.
On entering the apartment you may hang your coat in the entrance hall and continue into the luminous kitchen and dining nook. The current owners of this apartment are keen cooks and this is reflected in the well-appointed kitchen. You or your guests can cook up a culinary wonder with produce from the local open-air markets (Richard Lenoir and Bastille markets) and dine at the stone-topped bistro table overlooking the street below. Also in the same room is a large laundry cupboard with a washer/dryer, plus everything for your laundry needs so, if you wish, your guests can travel a little lighter!
Beyond the kitchen, through the sliding door which disappears into the wall, is a spacious modern bathroom complete with large walk-in shower, floating toilet and contemporary wash-basin. A tiled floor and natural stone mosaic detailing add to the up-to-the-minute design. Luxuriously fluffy towels (included in the sale!) hang on the heated towel rail with plenty of spares under the teak vanity shelf. With an overhead light, mirror light and large frosted glass window, you or your guests can use this bright space to ensure you look your best when you hit the town. There is also ample storage provided for toiletries.
Back through the kitchen and through the glass paneled door is the main living space of the apartment. A king-sized bed with luxury bed linen and plenty of pillows (remember, these are all included!) ensure everyone has a comfortable night, but another advantage is that the bed can be converted into twin beds whenever it’s required. There is a French-style armoire for space to hold lots of clothing and there is room for suitcases on top. The desk has space for a laptop and papers, and can be closed when work is over. An entertainment center is provided in a large shelving unit which houses a flat-screen television, CD and DVD players and a selection of books and games. Close the sleek velvet curtains and the apartment becomes a perfect cozy sanctuary.
Everything you could possibly need has been included in this well thought-out apartment. The three separate rooms give a feeling of space and even allow for time away from your fellow guests if necessary — as it’s easy to be in separate rooms and still have the comfort, light and views. The apartment building itself is of the typical Haussmannian style of architecture that makes Paris so beautiful.
Special note: the communal parts of the building need to be refurbished but the exterior of the building just underwent “ravalement” (resurfacing) and therefore the current owners have already paid for this expense and the building looks great! This means it won’t happen again for a minimum of 10 years!
All this just for the asking price of 275,000€! Of this price, 7,800€ counts toward furnishings, so this is deducted from the officially recorded sales price and no Notarial fees are paid on this amount — a savings to you. Notarial fees are normally about 7% of the recorded sales price and there is a finder’s fee of 3% on the total amount — but no agency fees are added, saving you about 5% of the total purchase price!
Rentals on Le Grand Ciel over the last few years have been up to par with all of our luxury apartments. Since 2012, the occupancy rate has exceeded the average! Since it would continue on the market with us as a rental property, you would have revenue from the moment you signed the “Acte de Vente!”
Plus, if you would like to take a mortgage, we can help you find financing of up to 80% of the purchase price working with our lenders who specialize in loans to international buyers.
In all honesty, this is one amazing bargain that’s likely not going to come along for a long, long time. There are very few small, inexpensive apartments on the market these days and those that are normally need tons of renovation. Renovation costs average 2,500€ per square meter! So, that means a savings of 57,500€ from the outset, not to mention the loss of time, effort and valuable rental revenues!
Financing can be achieved to purchase any of these properties, however, the seller would have to be agreeable to what’s called a “clause suspensive” — meaning that the purchase is CONTINGENT on getting the financing. It’s best to get financing for a long list of reasons, but if you can afford to take the risk, agree to remove the contingency clause so that a purchase can take place smoothly! To discuss this further, contact John at [email protected].
If you are SERIOUSLY interested in purchasing any one of these, and you understand agree that there is a 3% finder’s fee added to the purchase price, be sure to email us at: [email protected].
A la prochaine…
Director of The Adrian Leeds Group, LLC
P.S. Buyers will be handled on a first come, first serve basis. So, the faster you contact us, the better! Let me remind you, if you are SERIOUSLY interested in purchasing any one of these, you have the wherewithal to purchase them or to qualify for financing, and you understand agree that there is a 3% finder’s fee added to the purchase price, be sure to email us as soon as possible at: [email protected]
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