APARTMENT HOUSE WITH A YIELD OF 12.3% IN GOERLITZ SAXONY !!
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.
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 approx 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 ... moredestination.
All of this at a price of only 264 euros per m2 !!
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