Commercial apartment building in Altenburg, Germany, 1 183 sq.m

We present to your attention a package of 2 apartment houses in Altenburg (land — Thuringia). The houses are located on the same side of the street and are adjacent to each other with a common wall. The houses were built in 1900 on a plot of land with an area of 811 sq.m. Major repairs were carried out in 2019-2020. Both houses belong to architectural monuments.

Each house consists of 1 entrance and 4 floors. In the first house there is 1 commercial premises and 6 apartments. The second house has 1 commercial space and 7 apartments. Commercial premises are located on the ground floors of buildings. It has its own yard, 2 outbuildings and 4 garages. Each apartment has its own storage room. The house has central heating.

All residential and commercial premises are registered in the Land Register under separate cadastral numbers, which makes it possible to sell apartments and premises separately at retail in the future.

At the moment, only 1 apartment with an area of 69.64 sq.m. and 1 commercial space with an area of 120.56 sq.m. are available for rent. The apartment can be rented out or used for your own living at the discretion of the future owner. All other premises are rented out and bring a stable income.

Cost — 980,000 euros
Total area — 1,231 sq.m. (of which residential — 801.5 sq.m., commercial — 381.97 sq.m., 4 garages in the yard — 47.62 sq.m.)
Rental income — 51,420 euros/year (possible increase when renting out all objects)
Profitability — 5.25% (possible increase when all objects are leased)

The houses are located 2 km from the central square of Altenburg. Public transport stops nearby, to the railway station (trains with a rich schedule and directions) – 300 m. The facility is located in an area of developed infrastructure, and is surrounded by all the necessary buildings and services that support daily life. The city has a rich selection of shops, cafes, various restaurants, entertainment centers, places for recreation, schools, kindergartens and all other benefits for a comfortable life, located in abundance throughout the city.

During the overhaul , the following types of work were carried out:
— the heating system has been checked and put into operation;
— new pipes and radiators have been installed;
— new bathrooms have been installed (new water supply pipes);
— new gas heaters are installed in each apartment;
— the ceilings are covered with drywall, additionally 40 mm of glass wool is laid out between the drywall and the ceiling;
— the walls are newly plastered and covered with drywall;
— new floors are laid out and covered with laminate;
— vinyl slabs are laid in bathrooms and kitchens;
— built-in new room doors;
— built-in new entrance doors;
— partially laid new electrical wiring;
— all the equipment has been checked in the house
— the window frames have been checked and their maintenance has been carried out
— the facade of the building has been renovated and painted
— the roof is turned off

Altenburg is a city in Thuringia, located on the border of Saxony and Thuringia. The city's population is about 106,000 people. Altenburg is located in a triangle between the cities of Gera (28 km, population 94 thousand people), Chemnitz (31 km, population 247 thousand people) and Leipzig (39 km, population 601 thousand people). Berlin is 240 km away. 5 km from Altenburg is the small Altenburg Nobitz Airport for private jets. The nearest large airport in Leipzig is 61 km away. For the implementation of regional connections, the nearby A4 motorway and the A72 motorway under construction contribute

Altenburg has more than 1000 years of history, has elegant architecture in various styles and a rich historical past. That is why it is a favorite among tourists. At the moment, the city is being revived anew after the last historical upheavals, architectural monuments are being restored, new jobs are being opened, infrastructure is fully established, population growth is increasing.

If you are interested in this and other objects, you can submit a request. The employees of our company will contact you in the near future and will provide you with the objects corresponding to your request.

Do not miss the opportunity to purchase a package of 2 apartment buildings with commercial premises in Thuringia!