Renovated, rented 4-family house in Germany.
This property is located near the Zschopau river, in Ringethal, a sought after location for holidays in Saxony, near the town of Mittweida and all the necessary amenities.
The house is located in the centre of the village, near the church, kindergarten and bus-stop.
Although it is not located in a large urban centre, this is a very desirable location and all the 4 apartments have been always occupied.
The house was totally renovated in 2019. The renovation works included a new ecological sewage treatment system, 3 new bathrooms, 2 new kitchens, all the pipes, completely new electricity installation, new water heaters, new roof, drainage, and basically everything else.
The house is a stone building from 1742, originally a barn, part of the Schloss Ringethal estate.
It was later converted to accommodate 4 apartments.
There is an open space area for storage and the central heating in the basement
On the ground floor there is a 2 bed and a 3 bed apartment.
On the first floor there is also a 2 bed and a 3 bed apartment and there is also a large attic for further storage.
In total the house has 320 sqmt of living area and the land has 840 sqmt.
Three of the apartments have a private garden.
There is private parking for 4 cars and an outbuilding with further private storage rooms and a garage.
With only 3 apartments rented at the moment the annual income is approximately 20,000 Euro, which represents a nice 7% gross rental yield. Rents are reviewed every year according to inflation.
One apartment is currently empty as it needs some updating. We already have someone interested to rent this one as well once some tlc is done.
For more information, please don´t hesitate to contact us.
