| Type | Block of flats |
|---|---|
| Living area approx. | 581 m² |
| Rooms | 24 |
|---|
| Plot area | 801 m² |
|---|
| Purchase price | 235.000 € |
|---|---|
| Price per m² | 404.36 €/m² |
| Commission | 3,57% |
Calculate using this listing's purchase price. Every assumption is editable and all figures are non-binding estimates.
The initial payment is estimated as loan amount × (interest + repayment) ÷ 12. Individual lending terms, special repayments and further fees are not included. Tax, notary and agent costs may differ in your case. This is not a financing offer or financial advice.
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More financing calculators and assumptionsAnyone looking as an investor for a solidly rented existing property at a fair price and with realistic development potential will find here a property that meets exactly these requirements—without false promises, but with genuine substance value.
The apartment building, constructed around 1912, contains nine residential units with a total of 581 m² of living space, as well as five garages, four of which are rented. The fifth garage serves as a bicycle and storage room for general use. Current rental income amounts to €28,807 per year—a basis that allows for reliable calculations. The current owner will remain in the property as a tenant; his occupancy is already included in the current rent, ensuring a smooth transition without vacancy. The corresponding leases with minimum rental periods will be concluded before the notarial appointment.
The location at the quiet end of a side street with little traffic creates a pleasant residential environment for the tenants, while Falkenstein town center is only a short distance away. The property has a communal garden area, which contributes to the building’s quality of living and strengthens the tenant community. The apartments were renovated between 1994 and 2000; in 2010, most windows were replaced with uPVC double glazing. However, some DDR-era wooden box windows remain, including in the stairwell. Parts of the roof were renewed in 2000 and 2020, and large sections are covered with genuine slate. The gas central heating dates from 1994 and reliably supplies the building. The property has a full basement and an unheated attic.
The units are furnished to a rather basic standard—laminate, tiles, and carpeting characterize the floors, while the bathrooms are functional. An apartment on the second floor is currently used by the owner, without renovation, as office and workshop space and offers additional rental potential once refurbished. The owner’s apartment has a fireplace; installing two additional fireplaces in the units above is structurally possible—an added value that can be realized with manageable effort. The average rental period in the building is around 10 years, indicating a well-functioning tenant community.
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