Commission-free investment with potential: 2 apartments in the heart of Erlangen: 2/4 already sold

Key facts

Purchase price & costs

About this apartment

BASIC DATA

Property type: Apartment in a multi-unit building
Street: Westliche Stadtmauer Str. 50

Town: 91054 Erlangen
Year built: 1957

Purchase price Apt. 1: €110,000.00
Purchase price Apt. 2: €110,000.00 (already sold)
Purchase price Apt. 3: €110,000.00
Purchase price Apt. 4: €115,000.00 (already sold)

IMPORTANT DATA

Passenger elevator: yes
Floor: ground floor

Base rent Apt. 1: €325.00 p.m.
Base rent Apt. 2: €300.00 p.m. (sold)
Base rent Apt. 3: €295.00 p.m.
Base rent Apt. 4: €300.00 p.m. (sold)

Service charge Apt. 1: €172.00 p.m.
Service charge Apt. 2: €165.00 p.m. (sold)
Service charge Apt. 3: €220.00 p.m.
Service charge Apt. 4: €163.00 p.m. (sold)

Modernization of common property: 1997
Condition: very well maintained
Energy source: gas
Number of floors in building: 4

You can view all property documents via the following link in the exposé. Please note the information for prospective buyers on the penultimate page of the exposé:

The apartments on offer are in an overall well-maintained condition. Renovations have been carried out regularly in recent years, meaning that the units have always been handed over in an appealing and rentable condition.
Sanitary areas: repeatedly modernized; sanitary fixtures were gradually replaced.
Walls & surfaces: after every change of tenant, professional renovation was carried out, including a fresh coat of paint, so that the apartments are always presented with a contemporary appearance.
Floor coverings: all units are fitted with high-quality prefinished parquet or laminate flooring, professionally installed and in well-maintained condition.
This continuous maintenance ensures long-term preservation of value and minimizes immediate maintenance expenditure for investors. For investors, this means: no backlog of renovations, a solid basis, immediate rentability – combined with the already described possibility of a significant rent increase, an extremely attractive investment.

Fittings and features, as described

Detailed analysis per apartment

Apartment 1

• Living area: 17 m²
• Current net rent: €325 / month
• Annual net rent: €3,900
• Current rent per m²: 325 / 17 ≈ €19.12 / m²
• Potential (at €450/month): €450 / month → €5,400 / year
• New rent per m² (monthly): 450 / 17 ≈ €26.47 / m²
• Annual increase potential: +€1,500
• Relative increase: ≈38.5%

Tenant: young woman, 28 years old, rented since 05.01.2024
Assessment / Recommendation:
Apt 1 was only re-let at the beginning of 2024. An immediate rent increase is generally only possible upon contract renewal or in accordance with the statutory requirements (notice/increase periods). Strategically advisable: At the next contract discussion, present the market argument and, if applicable, offer minor renovation work (e.g. new flooring, fresh coat of paint) in order to justify the increase in line with the market and facilitate approval.

Apartment 3

• Living area: 14 m²
• Current net rent: €295 / month
• Annual net rent: €3,540
• Current rent per m²: 295 / 14 ≈ €21.07 / m²
• Potential (at €450/month): €450 / month → €5,400 / year
• New rent per m²: 450 / 14 ≈ €32.14 / m²
• Annual increase: +€1,860
• Relative increase: ≈52.5%

Tenant: older gentleman, smoker, 76 years old, rented since 01.05.2021
Assessment / Recommendation:
Tact is important with long-term, older tenants. Direct, sharp increases may encounter resistance. Recommended: individual, respectful communication, if applicable a graduated model (e.g. gradual adjustments over 1–2 years), or offering stable contractual conditions in return (e.g. a longer contract term, improvement works). Take social aspects and legal framework conditions into account.

Overall data (Apartments 1 + 3)

• Total living area: 31 m²
• Current monthly net rent: €620
• Current annual net rent: €7,440

Package purchase price: €205,000 for both apartments

Return and rental potential

Total potential rent:
• €900 monthly
• €10,800 annual net rent

Rent increase potential:
• Current annual rent: €7,440
• Potential annual rent: €10,800
• Increase: +€3,360 annually
• Relative increase: ≈45%

Special feature of Apartment 3

The apartment is currently occupied by an older tenant (76 years old) who is a smoker. As a result, the value retention of individual surfaces (particularly walls, ceilings and possibly flooring) is currently impaired.

A renovation should therefore be budgeted for after a future tenant change.

Estimated Renovation costs:
approx. €7,500 – €10,000

This investment primarily concerns:

Painting work / nicotine treatment

possible replacement of floor coverings

minor cosmetic repairs

Investment rationale / Summary

The two apartments can be purchased together for €205,000, offering investors several advantages:

• Attractive package price compared with individual sales
• Immediate cash flow through existing tenancy agreements
• Significant rent increase potential of around 50%
• Potential for value appreciation through renovation of Apartment 3
• Low administrative effort, as both units are in the same property

Even taking the calculated renovation costs for Apartment 3 into account, this results in very attractive return and cash flow potential, particularly after adjusting the rents to the local market level.

Other

Perspective for Investors
For investors, Westliche Stadtmauerstraße 50 is an unbeatable address:
High tenant demand from students, scientists, commuters, and employees of internationally active companies.
Secure lettability thanks to the central location and excellent infrastructure. Vacancies can practically be ruled out in this location.
Value stability and potential for appreciation: Central locations in Erlangen are scarce and enjoy above-average demand—a clear advantage for long-term investment.
Predictability: The central location ensures consistently attractive returns and makes the property a sustainable investment.

Key Message for Investors:
Without income growth potential: Demand is high, particularly in this central location; implementation requires customary legal steps and sensitive communication with tenants.


Note for Prospective Buyers
To make the process efficient and transparent for everyone involved, we ask you to provide a current financing confirmation from your bank before an initial viewing. This ensures that we bring together only serious prospective buyers and enable you to have a smooth viewing process.
We thank you for your understanding and look forward to presenting the property to you in person.

Viewings are held every Wednesday afternoon. Please inform us of your possible times when making your initial inquiry and ensure that a telephone number and email address are provided.

Location

Location details

LOCATION DESCRIPTION
The property is situated in a prime central location in Erlangen, at Westliche Stadtmauerstraße 50. This central address combines urban living, excellent accessibility and high location quality – factors that are of particular importance to both owner-occupiers and investors.

Surroundings & Location Quality
Premium location close to the city centre: Westliche Stadtmauerstraße is located on the edge of the historic old town. The immediate proximity to shopping facilities, restaurants, cultural and leisure activities makes the location equally attractive to singles, couples and professionals.
High demand: Apartments in central locations such as this one are in consistently high demand in Erlangen – both on the rental market and for resale. The proximity to the university, clinics and Siemens headquarters ensures consistently high demand for housing.
Vibrancy & charm: Historic buildings meet modern infrastructure here. This combination makes the neighbourhood particularly attractive to live in and increases its appeal to long-term tenants.

Infrastructure & Accessibility
Excellent accessibility: Erlangen Central Station is within walking distance, and bus routes run in the immediate vicinity.
Short distances for everyday needs: Supermarkets, pharmacies, cafés and restaurants are located directly nearby. Everything needed for daily life can be done without a car.
Economically strong location: Erlangen is regarded as one of Bavaria’s economically strongest cities. Employers such as Siemens, Friedrich-Alexander University and the Max Planck Institutes ensure stable demand for housing.