8.7% Positive cash-flow
FOR SALE: €600,000
Beautiful fully-let building located a short commute from Dresden with great mortgage terms – 8.7% p.a. positive cash-flow
Schandauer Straße 3 is fully rented classical style apartment block right in the city centre of Pirna, one of the most picturesque towns of Germany, located only 20min from Dresden. Pirnas position within the economic region of Dresden, keeps the building fully rented over the years with long term tenants generating stable rental yield of 6.2% per annum. Perfect location enforces the local Government tax office, which is located just across the street. The monthly average rent is only 309 € per apartment, which gives tenants huge advantage over apartments in Dresden and since commute to Dresden takes only 30min it is common for tenants to work in Dresden but choose to live in Pirna for financial reasons and also wishing a quieter lifestyle.
• Tenanted Multi-Family Home of 9 apartments
• Special non-recourse Buy-to-Let mortgage in place
• Properties acquired in a simple GmbH (ltd) structure
• Property, Tenants, Maintenance, Cashflow and Administration all managed in Germany
• Premium Buy-to-Let ‘Hands off’ investment solution
The property consists of two buildings, the front building has 5 apartments and a coach house, at the back, is converted into 4 fully equipped semi-detached apartments. Originally built in 1900 it has well preserved all original decorations of art deco period as most of the houses within this classical style neighborhood. It was fully renovated in 1997, currently in a good condition and been very well preserved making it very attractive living space for tenants, where some of them living there for over 12 years.
RESERVE TODAY SUBJECT TO VIEWING!