Sold! in Zeitz, Saxony-Anhalt, Germany

Sold! High Yield Rental Property!

Annual net rental income when fully rented: ca. 32,160 Euro.
This object is located in the town of Zeitz (ca. 27000 inhabitants), in the district of Burgenlandkreis in the south of Saxony-Anhalt, Germany, situated on the river Weiße Elster in the middle of the triangle of the federal states Saxony-Anhalt, Thuringia and Saxony.
Zeitz is optimally located by means of traffic (Bundes roads B180, B2, B91 lead directly to the autobahn A9 (Berlin) and A4 (Dresden).
Altenburg airport (used by Ryan-Air daily from London) is only 25 km away.

The building is located on a central street, close by to all the needed amenities.
The local bus station is in front of the building.
A plan to build a big shopping center just across from the property has been approved and will undoubtely boost the value (and thus, the rental income), of the commercial spaces in the property.

The object is listed as monumental. It consists of 2 commercial units on the ground floor (a taxi dispatch center and a travel agency, both are long time tenants) plus 4 more floors with office/living spaces as listed below:

Ground floor:
Taxi dispatch center (52.50m2)- rented
Travel agency (43m2)- rented

1st floor:
A flat (57m2)- rented
A flat (49m2)- rented

2nd floor:
A big flat (117m2)- rented

3rd floor:
A big flat (117m2)- currently empty

4th floor (fully renovated roof attic):
A flat (64m2)- currently empty
A flat (46m2)- rented

Total 8 rentable units and ca. 545m2 usable space.

Each unit has its own storage space in the basement.
The building is equipped with a central gas heating.
During the last 13 years the building has been totally renovated:
- The whole building construction is renewed.
- The roof attic as been converted to living space.
- New gas central heating system, incl. a new heating boiler (2009).
- New sanitary in all the units.
- New drainage system.
- New electrical installations.
- New cabel-TV, telephone and ISDN cabels infrastructure.
- New doors and carpeting/laminat in all the units.
- All windows are isolated.
- New intercom units to all flats.
- Etc. etc.

Total annual Netto "cold" rent when fully let is ca. 32,160 Euro.

Off course, the tenants pay also the service costs on top of the above mentioned amount.
These include: Heating and warm water, common area electricity, warm and cold water, sewage, property tax, garbage disposal, insurances, snow and street cleaning, master chimney sweep, house keeping, etc. etc.
At the end of each year, an exact calculation of the service costs is made and these are adjusted accordingly for the following year.

The asking price for this object is 199,900 EUR, which reflects an amazing ca. 16% annual yield!, on a fully rented, renovated object.
You will not find a better income to price ratio for a similiar quality kind of object.

This object is offered to you directly from the owner, thus no agent's fees (usually 5% plus VAT) are requested.

As usual in Germany, all other costs (obligatory stamp duty and notarial fees, which sum up to ca. 6% of the purchase price), are paid by the buyer.

For further information, please do not hesitate to contact the owner.