Apartment Block for Sale in Anklam, North Germany, Usedom, Germany

Eight Family House on Large Plot

The Hanseatic Town of Anklam has around 15,000 residents. Anklam is the capital of the District of Eastern Pomerania and gateway to the Baltic island of Usedom. With more than 1,900 hours of sunshine per year, the area is the sunniest in Germany. The town is directly bordered by the "Anklamer Stadtruch" Nature conservation area as well as by "Naturpark Usedom-Oderhaff". The beautiful unspoilt sandy beachs of the Baltic shoreline are only a 10 to 15 minute drive ride away. Anklam and Usedom are very popular with Berliners who travel up for weekend breaks and there is a brisk summer tourist trade.

Aviation pioneer Otto Lilienthal was born in Anklam, where he attended school. The town also has many architectural attractions such as the "Steintor", the "Marienkirche", the "Pulverturm" and the "Gotische Giebelhaus". The town has its own museum as well as the famous Otto Lilienthal Museum.

The eight family house for sale is regarded by many in Anklam as the most attractive dwelling house in the town. It was built to particulary robust specifications for a wealthy resident in 1911. It is a three storey building with pent roof and pediment, plus a short side-wing. Almost all the original building elements have been retained.

The building is situated near to both rail and bus stations, in a respectable neighbourhood where numerous medical practioners and firms of solicitors are located. The Otto Lilienthal Museum is just over the road, the Mecklenburg Lakes Cycle path passes right by the building. The first ever indoor swimming pool to be built in the former East Germany ("Type Anklam")is also close by.

The floor area is approx 685m2 and consists of four 4-room apartments, a 3-room apartment and three 2-room apartments. The building is designed south facing, so the apartments are very sunny. All four 4-room apartments have balconies. There is a cellar extending under the entire building. The roof space, which presently houses a small 2-room apartment can also be developed.

One apartment on the upper ground floor is at present rented to an elderly couple. All the others are unoccupied.

Although structurally very sound and habitable the building would benefit from some modernisation. The exterior walls need to be painted and a few repairs and the windows need refurbishing. Depending on the desired interior, kitchen and bathroom designs, building firm estimates range from Euro 200k - Euro300k for interior and exterior renovation. The current management company has a number of families who have expressed interest in the apartments which due to their size are very appealing. Rent is estimated as being approximately Eur 6.00 per metre rented space providing an annual rent income of approx Euro 50,000 if including parking facilities.

As the building is classed as an architectural monument, all the costs of maintaining it can be 95 percent tax depreciated over over twelve years. There is an extra financial advantage in that the Kreditanstalt fur Wiederaufbau (KfW) is currently offering extremely interest favourable loans for renovating old buildings.

The Building features very charming Jugendstil details such as the original carved door, cellar windows with curved mullions, completely intact, Jugendstil tiles in the entrance and upper ground floor areas and a series of valuable large tiled stoves dating back to before the First World War.

The grounds extend to approx 965 m2, mostly rectangular in shape (approx 20m x 50m). The rear part is accessed through a gate to the right of the building. Except for a small garden areas, the rest is cobbled and provides parking spaces for all the apartments.

In this area there is also a large 2 storey brick utility building also structurally sound providing appr 150 m2 of useful space on both ground floor and upper floor. This could be converted into studio apartments or garages.

As an investment property this is a fantastic opportunity to obtain good yield return straight away as well as good capital appreciation over the longer term.