German Property Available To Buy

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Other Description

TENANTED APARTMENT HOUSE WITH 12.6% YIELD - SAXONY

This property is located in Wurzen, a town in the district of Saxony. Wurzen is approximately 140 km south of Berlin and 25 km east of Leipzig. This pretty market town is a residential satellite town for the attractive and popular tourist resort of Leipzig. Wurzen has a population of nearly 18,000 and has rail connections to both Leipzig and Dresden. The main commercial focus is on the production of pastries and candies, however, there are several specialist mechanical engineering firms also resident in the town. This area of Saxony is very popular with tourists both from within Germany and international visitors who wish to see the twin attractions of Leipzig and Dresden.

This four storey, tenanted apartment house dates back to 1912 and is on a plot of 1000m2. The property comprises of 8 residential units ( floor area 493 m2) with apartments having central heating and balconies. The property is located centrally in Wurzen being only 500 metres from the town centre and less than 1km from the main railway station.

The apartment house currently has seven apartments tenanted and one apartment empty. The actual annual rental income is 18,663 euros which equates to a substantial yield of 10.9%. However, with all units occupied the potential income is 21,422 or a yield of 12.6% !!