Schandauer Str.

Sebnitz, Saxony, Germany

Status	Available
Asking Price	342,700  EUR

 

About the Development

Tenanted Apartment House In Saxony.

Type: Apartment Block
State: Saxony
City: Sebnitz
Street: Schandauer Str. 
Tenanted: yes
Yield: 9.3 %
Size: 676 m²
Price: EUR 342,700

Behind this classic facade are eleven residential units offering 676m² of floor space. The four storey property dates back to 1900 although modernized in 1996 and sits on a plot size of 390m².

All but one of the apartments are tenanted and a contract is in place for the remaining unit commencing in May, 2009. The projected rental income at this time is 31,800 Euros which would deliver a terrific yield of 9.3%. (The existing income exceeds 27,800 Euros with a yield of 8.1%.)

Sebnitz is a pretty market town in a national park area in Saxony. The attractive, historical town has approx 9000 residents and is located 40km east of Dresden and approx 240km south of Berlin.

The area known as Saxon-Switzerland is typified by craggy hills, castles, woods and rivers very popular with tourists seeking outdoor pursuits.The area is famous for its sandstone which provided the material for a number of attractive buildings in Dresden as well as the famous Brandenburg Gate in Berlin.