Pestalozzistr.1

Werdau, Saxony, Germany

Status	Available
Asking Price	45,000  EUR

 

About the Development

This attractive building dates back to 1898 and was subsequently modernised in 1995.

Type: Apartment Block    
State: Saxony  
City: Werdau 
Street: Pestalozzistr.
Tenanted: yes  
Yield: 11.4 %
Size: 208 m²
Price: EUR 45,000

Description

The three storey property comprises of two residential (160m²) and one commercial unit (48m²). The total floor area is 208m². The property modernisation included central heating, roof, facade and windows.

The property is located in Werdau which is a typical residential town in Saxony located 50km east of Chemnitz and 80km south of Leipzig. The neighboring town of Zwickau (population 96,000) is only 8 km. Werdau, situated on the River Pleisse, has a population exceeding 23,000 with a history associated with textiles but more recently with precision engineering linked to the automobile industry. In addition the town is a tourist attraction set amongst the green rolling hills of Saxony.

The annual rental income exceeds 5100 Euros and offers a terrific yield of 11.4%. The commercial unit is currently vacant, however, if tenanted the yield could be 15.4%!!

The property with an exceptional income is available at only 216 Euros per m².