Located in Freiberg in Saxony, these seven apartments are part of a block of eight that have been repossessed by the bank.
One tenant has bought her own apartment from the bank - the other seven are for sale - They are ALL on their own individual deeds - Potential to sell them off indvidually if you choose.
The property is located near the eastern outskirts in a residential area.
Plot size: 440 m²
Rentable Area 479,82 m²
This building was built in c.1925 and fully renovated in 1997. No work remains to be done.
Two apartments are vacant (One tenant has just moved out) As it has been repossessed, the bank have not been active in finding new tenants. Renovated properties like this one in Freiberg are easy to rent, and a good management company that has been contacted in relation to this property are sure they wil rent the two apartments within a few weeks.
Currently with two vacant apartments there is a Net Yield of 8.8%
When the two apartments are rented the Net Yield will be 12.2%
Freiberg is a university town with a population of over 42,000.
A local bank has indicated they will give a 70% Mortgage, subject to status.
