--- title: "Dinicu Golescu 28 – Gara de Nord, Case Study, ADEL Invest" description: "Case studies from ADEL Invest's Romanian portfolio: renovated and managed apartments, with purchase prices, works carried out and realised returns." canonical: "https://adelinvest.com/portfolio/case-studies/dinicu-golescu-28-gara-de-nord-case-study/" last-updated: "2026-08-04T08:33:16.215Z" --- # Dinicu Golescu 28 – Gara de Nord, Case Study, ADEL Invest > Case studies from ADEL Invest's Romanian portfolio: renovated and managed apartments, with purchase prices, works carried out and realised returns. Source: https://adelinvest.com/portfolio/case-studies/dinicu-golescu-28-gara-de-nord-case-study/ ![Dinicu Golescu 28 – Gara de Nord](https://res.cloudinary.com/dtfqq4fjc/image/upload/f_auto,q_auto,c_limit,w_1600/v1780648909/Adel_Invest_Dinicu_Golescu_3_71f73b2b06.jpg) # Dinicu Golescu 28 – Gara de Nord Purchase Price €71,250 Area (m²) 58 m² Price / m² €1,228 1st Year ROI 7.1% Net Annual Income €7,307 5-Year + Sale Avg ROI 8.4% Share * [](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fadelinvest.com%2Fportfolio%2Fcase-studies%2Fdinicu-golescu-28-gara-de-nord-case-study%2F) * [](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fadelinvest.com%2Fportfolio%2Fcase-studies%2Fdinicu-golescu-28-gara-de-nord-case-study%2F) * [](https://wa.me/?text=Dinicu%20Golescu%2028%20%E2%80%93%20Gara%20de%20Nord%20https%3A%2F%2Fadelinvest.com%2Fportfolio%2Fcase-studies%2Fdinicu-golescu-28-gara-de-nord-case-study%2F) * [](https://x.com/intent/post?text=Dinicu%20Golescu%2028%20%E2%80%93%20Gara%20de%20Nord&url=https%3A%2F%2Fadelinvest.com%2Fportfolio%2Fcase-studies%2Fdinicu-golescu-28-gara-de-nord-case-study%2F) * [](mailto:?subject=Dinicu%20Golescu%2028%20%E2%80%93%20Gara%20de%20Nord&body=https%3A%2F%2Fadelinvest.com%2Fportfolio%2Fcase-studies%2Fdinicu-golescu-28-gara-de-nord-case-study%2F) Value Creator ## Key Features 01 ### Location Advantage Chiar lângă Gara de Nord – cel mai important nod feroviar din București. 02 ### Nearby Amenities Stațiile de metrou M1 și M4 sunt la câțiva pași, iar facilitățile centrale din Sectorul 1 sunt ușor accesibile. 03 ### Apartment Quality Apartament cu 3 camere, 2 dormitoare (13,1 + 10,1 m²), living de 16,1 m² și balcon; complet renovat. 04 ### Building Specifications Etajul 6, într-un imobil cu regim mediu de înălțime, prevăzut cu lift; instalație electrică nouă și interior renovat. ## The Story 8.4% 5-Year Avg. ROI. Fully renovated, Sector 3 apartment. ### Challenge A 58 sqm, 3-room apartment directly adjacent to Gara de Nord Bucharest's primary railway and metro hub. The unit sits on the 6th floor of a mid-rise building, fully renovated, eliminating renovation risk and enabling immediate rental income. The investment thesis: a well-located, move-in ready asset in central Sector 3 at a competitive price, with strong fundamentals for both cash flow and long-term value appreciation. ### Approach Adel Invest identified this newly renovated apartment near Gara de Nord as a value-creation opportunity in one of Bucharest's most transit-connected locations. The 3-room, semi-detached unit on the 6th floor offers 58 sqm of usable space with a balcony, full gas connection, new electrical, and association heating. Rental income is targeted at EUR 675/month (EUR 8,100/year), generating a first-year net income of EUR 7,307 after expenses. Under the Value Creator strategy, 2.5% annual appreciation is projected, with a 5-year exit price of EUR 115,913. Total cash investment including acquisition, closing costs, and renovation is EUR 102,450. ### Results 7.1% 1st Year ROI 8.4% 5-Year Avg. ROI €102,450 Total Investment Concept Choice ## Value Creator Opportunities where value is created through renovation, repositioning, or development, potentially generating higher returns through active involvement and strategic improvements. ## Property Identification Property Type 3-rooms Layout Semi-Detached Street Bucharest, Dinicu Golescu Street No. 28 City Bucharest Sector 3 Year of Construction — Floors in Building — Floor 6 Seismic Risk Grade — Transportation Distance — Elevators — ## Size & Technical Usable Apartment 58 m² Constructed Apartment — Total Usable Area 58 m² Condition Newly Renovated Central Heating By Association Gas Yes Electricity New Storage Areas Yes Parking — ## Financial Case Purchase Price €71,250 Asking Price — Price per sqm €1,228 Parking Price — VAT — Total Purchase Costs €71,250 Projected Annual Appreciation 2.5% ### Cash #### Acquisition Costs Total Purchase Costs**€71,250** Total Closing Costs**€3,175** Total Renovation Costs**€28,026** Total Cash Investment**€102,450** #### Sale / Exit Projected Sale Price (5 Years)**€115,913** Selling Expenses**\-€5,367** #### Income Total 1st Year Rent**€8,100** Total 1st Year Expenses**\-€793** Total 1st Year Net Income**€7,307** #### Returns 1st Year ROI**7.1%** 5-Year + Sale Avg ROI**8.4%** ### Leverage #### Acquisition Costs Total Closing Costs**€5,161** Total Renovation Costs**€28,026** Total Investment (Owner Equity)**€43,874** #### Sale / Exit Projected Sale Price (5 Years)**€118,161** Loan Payoff**\-€55,692** Selling Expenses**\-€5,471** #### Income Total 1st Year Rent**€8,100** Total 1st Year Expenses**\-€4,739** Total 1st Year Net Income**€3,361** #### Returns 1st Year ROI**7.7%** 5-Year + Sale Avg ROI**13%** ## Gallery ## Ready to Invest? 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