Home Properties Portfolio Meissen & Nossen

Portfolio Meissen & Nossen

Location: Meissen & Nossen, Germany
Price: € 929,000
Rental Yield:
Mortgage included: Yes
Units: 19
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Buy-to let portfolio of two buildings consisting of 19 apartments yielding 6.7%

This portfolio consists of 2 buildings totaling 19 apartments and one garage. The buildings are located in cities of Meissen and Nossen in the district of Saxony. The property in Nossen consists of 9 apartments and is located in a quiet family district with various transport links connecting to the town centre. It was built in 1900 and was fully renovated in 2009 with all apartments in a good living condition. Two vacant apartments can be re-rented to new tenants for market rates. There’s also an opportunity to rent out a garage, which currently is not used by tenants. The city center and the train station Nossen are within walking distance of the object. The second building is located in the city of Meissen and is in an excellent condition and fully rented. 8 units are fully rented out to the Children foster care company, which creates a family environment for children in need and the remaining 2 units are rented to one long term tenant. The whole building was built in 1935 and fully renovated 2-3 years ago. Its location in the heart of Meissen old town makes it a desirable place to live and reduce any possible vacancies in the future.

Key Investment Features

  • Good locations, long term tenants
  • Average price per apartment only €48,895
  • Buildings in good condition
  • Average rent €4,85/sqm
  • Steady rental yield of 6.5%
  • Leverage possible