Emmerichstr. Apartment Block

Gorlitz, Saxony, Germany

Status	Available
Asking Price	201,250  EUR

 

About the Development

This tenanted apartment house in Saxony offers a terrific 12.3% yield. The property, on a plot size of 496m², dates back to 1868 and was subsequently modernised around 1990.

State: Saxony
City: Goerlitz
Street: Emmerichstr.
Type: Apartment Block
Size: 762 m²
Tenanted: yes
Yield: 12.3 %
Price: EUR 201,250

The centrally heated building comprises of nine residential apartments (484m²), two commercial units (118m²) and two storerooms (160m²). All the residential units are tenanted with both the storerooms and one commercial unit currently vacant. The total floor area is 762 m².

The property currently delivers a net annual income of 24,768 Euros which equates to an excellent yield of 12.3%. The potential income exceeds 29,500 Euros offering an extraordinary yield of 14.7% !!

Goerlitz is the eastern most city in Germany and sits on the border with Poland. The city is approximately 100km east of Dresden and 280km south-west of Berlin (less than a three hour drive). Historically the one city existed across both riverbanks, however, now it is two cities, one in Germany (Goerlitz) and one in Poland (Zgorzelec)!

The town has a rich architectural heritage (Gothic, Renaissance, Baroque, Historicist, Art Nouveau), which was — in contrast to most other German cities — not destroyed during World War II. One example of this rich architectural heritage is the Schönhof, which is one of the oldest civil renaissance buildings in Germany. The city has a population exceeding 56,000 and is a popular tourist destination.

All of this at a price of only 264 Euros per m² !!