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Stylish multi-family house in a TOP location with a highly attractive overall package:
- Stable income through FULL RENTAL and a solid tenant base
- Convincing profitability: current annual net rent just under €50,000, corresponding to approx. 7% NET RENTAL YIELD across approx. 760 m² of living space, with additional potential for rent increases
- The house is divided according to the German Condominium Act (WEG) – by floor – as follows: TE1 on the GROUND FLOOR: contains 2 residential units TE2 on the 1st UPPER FLOOR: contains 2 residential units (easy to combine) TE3 on the 2nd UPPER FLOOR: contains 2 residential units (easy to combine) TE4 on the 3rd UPPER FLOOR, contains 2 residential units (easy to combine) TE5 in the ATTIC: contains 1 residential unit as well as attic rooms with conversion potential (easy to combine or extend) Additional conversion potential in the attic apex (currently used as a laundry-drying floor)
- Future viability through comprehensive renovation in 1996, during which the charm of the large apartments (layouts and ceiling heights) was largely preserved, meaning that even today the house offers attractive, sought-after sizes across its total of nine apartments (2-, 3- and 4-room). All apartments are also characterized by daylight bathrooms and spacious eat-in kitchens. One two-room apartment was most recently completely and extensively upgraded to a high standard in 2022, including elaborate restoration of the stucco elements, the original panel doors, renewal of the plaster (breathable lime plaster + silicate paint), installation of a modern bathroom with freestanding bathtub + shower, double washbasin, bidet, decorative tiles and stoneware flooring, high suspended ceilings with spotlights as well as floor-to-ceiling triple-glazed French doors, designer radiators and built-in kitchen furniture
- Energy sustainability through the existing connection to the municipal DISTRICT HEATING network and a completely renewed hot-water system in 2025. There is no long-term contractual commitment to the energy supplier.
- Highly sought-after MICRO-LOCATION: Kaßberg is one of Germany’s largest contiguous Wilhelminian-era districts; with its charm, it has always been the preferred choice of Chemnitz residents and newcomers and is only a 5–10-minute walk from the city center and Schloßteich. The house is also located in the quiet, exclusive inner area of Kaßberg, with all amenities for daily needs in the immediate vicinity (bus, employers, pharmacy, parks, school, grammar school, shopping center, discount grocery store, doctors/clinics, fitness center, restaurants, bars, cafés, church, clubs, etc.). Parking spaces for cars are available free of charge in the public parking area in the immediate vicinity.
- Convincing MACRO location: Chemnitz is the third-largest city in Saxony, as an upper regional centre, with approx. 250,000 inhabitants. The independent city forms the economic and cultural heart of the Chemnitz-Zwickau region, with a catchment area of around 1.42 million people. The city has per-capita purchasing power comparable to cities such as Berlin, Dresden and Leipzig. The attractiveness of Chemnitz as an industrial and residential location received another significant boost through its selection as EUROPEAN CAPITAL OF CULTURE 2025, with greatly increased visibility and substantial investments (approx. €90 million from EU, state and federal programmes, as well as countless additional private investments).
- Direct access and control through ownership of the entire property (asset or, if applicable, share deal possible) and cost-efficient acquisition directly from the owner - The building is not registered as a cultural monument pursuant to Section 2 of the Saxon Monument Protection Act (SächsDSchG). However, the property is located within the Kaßberg monument protection area designated by statute dated 25.03.1991. The option of obtaining monument status has nevertheless currently been submitted for enquiry to the state monument authority.
Location
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Location details
The apartment building is located in a quiet position on a side street. In the middle of the city's most populous district - the beautiful Kaßberg. Living here is attractive: architecture, greenery and urbanization create a lively neighborhood. Residential buildings with magnificent facades, beautiful villas and parks characterize the Kaßberg, which has been designated a protected historic area since 1991. Buildings from Historicism, Art Nouveau and New Objectivity here recall the once prosperous industrial city of European significance. Around one hundred years later, after the removal of war destruction, the district has once again become a magnet. Beautiful living in a historic or modern home, good local shopping for daily needs and a wide range of leisure activities attract a new clientele that brings the neighborhood to life. Cafés, bars, pubs, snack bars and good restaurants offer a solid basis for meals, experiences and communication. Clubs, fitness, climbing hall, nearby swimming pool and gondola station on the Schloßteich create opportunities for sport and active or passive cultural enjoyment. Kindergartens and various schools are also located within a few hundred meters. You can easily reach the city center on foot - through streets lined with front gardens and trees. In fifteen minutes you can reach the wooded slope of the Kaßberg, down to the river that gave the city its name and into the city center. If you use public transport, you can choose a suitable line from more than a dozen lines within a radius of half a kilometer. With your own vehicle, you can quickly reach the A72 or A4 autobahns in just under five kilometers. Short distances and a wide range of offerings of all kinds is the great advantage of central living with us - in the heart of the Kaßberg!
