German Property For Sale - Sebnitz | Freistaat Sachsen

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Other Description

SAXONY APARTMENT HOUSE WITH 16% POTENTIAL YIELD

This three storey apartment house comprises of five residential units. Three units are currently tenanted producing an actual yield of 7%. The remaining two units are currently occupied by the owner. If these units were subsequently tenanted then the potential yield exceeds 16% !!

The tenanted apartments do require refurbishment which could be programmed with the occupiers as and when required.

The property which dates back to 1893 is on a plot size of 980m2 and the total residential floor area is 286m2. The property has mature gardens to the rear. There may also be the potential to develop the roof space with the appropriate approvals.

Sebnitz is a pretty market town in national park area in Saxony. The area known as Saxon-Switzerland is typified by craggy hills, castles, woods and rivers very popular with tourists seeking outdoor pursuits. The attractive, historical town of Sebnitz has approx 9000 residents and is located 40km east of Dresden and approx 240km south of Berlin. 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.

This bargain priced property presents an interesting refurbishment project with the potential to deliver a very attractive yield.