Price On Application
Tenanted classical style building of 9 fully rented apartments only 30min from Dresden city.
Originally built in 1900 it has well preserved all the original decorations of art deco period as most of the houses within this classical style neighborhood. It was fully renovated and has been very well preserved making it very attractive living space where some of the tenants have been living there for over 12 years. Located in a very safe, residential neighbourhood with a Government tax office located across the street. It has many different shops, banks and Netto supermarket around the corner.
Units: 9 apartments
Current rent: €38,566
Rentable Sqm: 484 sqm
Mortgage included: Opt
Property is generating a very attractive rental yield of 5.7% per annum. There is a low supply and high demand for good quality rental properties in this area. The average apartment price in this house of €1,372/sqm is nearly 40% lower than the average price in Dresden. Since the commute to Dresden takes only 30minutes, it is common for tenants to work in Dresden but choose to live in Pirna for lower costs and a quieter lifestyle.
KEY REASONS TO INVEST
- RENT: Fully rented, with potential to increase the rent
- LOCATION: Only 30min drive to Dresden
- FULLY MANAGED: German based Property & Investment Management
Pirna is located southeast of Dresden, around 30min drive away and serves as a popular tourist destination for people visiting Saxony Switzerland and Dresden and is well known as the center of the most important economic region in the new federal states. Around 1.2 million inhabitants live and work here.
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