Investors Dream. a Fully Let House with 4 Flats in Uebigau-Wahrenbrück, Brandenburg, Germany

For Sale by the Owner, a 11.50% Net Yield, Fully Let House

For sale directly from the owner, a lovely 2 storey house, fully let, consisting of 4 similar apartments, each 59.50 m2 in size. Altogether 238 m2.

Plot size is 880 m2. Besides the house, the grounds contain 4 massive garages, all rented out to the tenants and several storage places and sheds, which are all used by the tenants.

All the 4 dwellings are let for an indefinite period of time.
All tenants are already there for long time (the earliest since 1978, the newest since 2002) and all pay punctually at the beginning of each month.

All together the annual net rental income for this property is EUR 10,235 , reflecting a 11.50% annual net yield of the asking price.

Besides the rental costs, the tenants also pay directly to the landlord each month a steady fee to cover all the regular ongoing costs such as: water supply, sewage, garbage disposal, chimney sweep, property tax, snow clearing, city tax, etc. etc.
These costs are adjusted by the landlord each year, depending on the service costs of the previous year.

Each tenant has its own coal based heating system, meaning that they all pay the heating costs directly and also maintain the heating systems themselves.

The tenants love their property and take care of it as a routine. The staircase, backyard and immediate surroundings are always neat and tidy.

Each tenant has its own extra storage space also in the basement of the house.

The tenants also grow their own vegetables as a hobby in a vegetables garden next to the property.
The vegetables garden is not a part of the sold property and before the sale should be measured and divided from it.
All measurements costs (including the upddate of the land register) will be done by the seller and at his costs before the sale.
This does not have any impact on the value and asking price of the property itself.

The village of Uebigau-Wahrenbrück is a quiet small village (population 6452 as of June 2005) about 100 km south of Berlin.

The property lies 500 m from the village center and market.

The house itself is dated from the GDR period (late 60's - early 70's) and is in a renovation needy condition.
Some mold is apparent in some places inside the flats.

It is not uncommon for German tenants to stay in their rented houses for decades. Due to the low interest rates and favorable housing conditions from the German states and municipalities, more Germans favor renting their apartments/houses, rather than buying them.

This property is offered directly from the owner, saving you the costs of a real-estate agent (of course you are welcome to appoint one, if you wish). Typical purchase costs would be around 5% (3.50% property transfer tax and around 1.50% notary’s fees), both paid by the buyer.



All in all, an opportunity to purchase a very high yielding property containing 4 apartments, for less than the price of one flat in the big cities!

For further information, please contact the seller.