Rental Yield: 11.6%
A beautiful classical building right in the city centre of Gera, mix of commercial and residential units
Both properties are in a very good location in the city center of Gera. Tenants have many shopping opportunities in the immediate vicinity, including a cinema and doctor’s office within walking distance. A big shopping arcade can be reached in ten minutes walking, as well as several green areas. Gera’s main train station is also nearby which connects with all of the biggest cities around.
Units: 15 apartments
Current rent: €142,424 (factor 8.6)
Rentable Sqm: 1,178 sqm
Avg price per Sqm: €1,035
Avg price per unit: €81,333
Mortgage included: Opt
Very high yielding property of 11.6%. Majority of the space is used for commercial purposes; however, the investor can have an option to convert the space into residential units and rent out to the local tenants. Due to the excellent central location, the building is perfectly suitable to function as mix of residential and commercial property.
KEY REASONS TO INVEST
- RENT: Fully rented with a very attractive rental yield of 11.6%.
- FULLY MANAGED: German based Property & Investment Management
Gera is the third-largest city in Thuringia. Located 55 km south of Leipzig, 75 km east of Erfurt and 120 km west of Dresden in a hilly landscape in the east of Thuringia, within the wide valley of the White Elster river. The city’s economy features industrial machinery (Dagro Gera GmbH), communications (DTKS GmbH, Deutsche Telekom).
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