Fully renovated investment property with its own garage – 5.1% gross yield, commission-free

Key facts

Purchase price & costs

About this apartment

Offered is an investment package consisting of a one-bedroom apartment on the 5th floor and a garage with its own land register sheet.

The apartment is currently being completely renovated; the work will be completed at the end of September 2026. The entire electrical installation, all water pipes within the apartment, the bathroom, the flooring and the painting work will be renewed. A fitted kitchen with branded Bosch appliances will be newly installed. For the buyer, this means no maintenance expenses for the separate property for the foreseeable future.

The financial viability at a glance:
•Package purchase price: €176,000
•Annual net cold rent: €9,000 (apartment €7,800, garage €1,200)
•Multiplier: 19.6
•Gross rental yield: 5.11 %
•Apartment service charge: €159.00 per month, including €45.60 allocated to the maintenance reserve
•Garage service charge: €14.00 per month
•Property tax: €81.76 and €6.49 annually

Heating and hot water are billed directly by the utility provider for each unit and are not included in the service charge. They can be passed on to the tenant via the advance payment for ancillary costs and therefore do not permanently burden the owner.

Another advantage lies in the owners’ association itself: The condominium owners’ association has a maintenance reserve of €182,732.94. There were no withdrawals in 2025; the annual allocation was increased to €24,000 from 2026. Mathematically, €4,166.31 is attributable to this unit.

The apartment will be rented for the first time after completion of the renovation. The selection process is under way, and several applications have been received.

The investment package includes its own garage in the covered communal garage facility on Theodor-Haubach-Straße, just a few steps from the building. It has its own land register sheet and is therefore an independent unit, not merely an exclusive right of use. The garage is rented to an external tenant and generates an additional annual net cold rent of €1,200. The apartment and garage will be sold exclusively together.

All tenancy agreements will be presented together with the draft purchase agreement before notarisation. The apartment and garage will be sold exclusively together.

Fittings and features, as described

Apartment after completion of the work at the end of September 2026:
•Bathroom with level-access, tiled shower and glass partition, towel radiator, anthracite-colored floor tiles, light-colored wall tiles
•Fitted kitchen with Bosch appliances: induction hob, oven, dishwasher, built-in refrigerator, extractor hood
•New floor coverings, white interior doors, white skirting boards, freshly painted walls
•Electrical installation renewed in compliance with VDE standards in accordance with VDE 0100, water and wastewater pipes within the apartment completely renewed
•West-facing loggia
•Washing machine connection in the bathroom
•Storage room in the apartment and private basement room

Building:
•Elevator from the ground floor to the 5th floor
•District heating supply, energy efficiency class B
•Laundry room, drying room and bicycle cellar in the basement
•28 residential units, well-maintained and professionally managed community

Garage:
Lockable single garage with up-and-over door, solid walls, concrete floor and electric lighting, accessible via a ramp. Approximately 2.50 meters wide with a 2.00-meter clear door opening and approximately 4.81 meters deep; the access lane of the complex measures 7.00 meters. The garage complex dates from the time of construction and has not been renovated, but it also has no need for repairs. A separate reserve fund of 28,857.72 euros exists for the common property of the garage complex.

Other

The sale is commission-free and exclusively as a package consisting of Apartment No. 23 and Garage No. 31.

The following documents are available and will be provided to serious prospective buyers after contact has been established:

•Declarations of division with subdivision plans
•Land register extracts for both units
•Minutes of owners’ meetings and collection of resolutions
•Financial plans for 2026 and 2027, service charge statement for 2025, proof of the maintenance reserve
•Energy performance certificate and floor plan
•Specification of works for the renovation, supplemented after completion by the acceptance report and technical documentation
•Official land standard value information from the Expert Committee for Property Values Lüneburg as of the reference date 01.01.2026

The renovation will be carried out by a specialist company and completed at the end of September 2026. Under the German Civil Code (BGB), the warranty period is five years from acceptance. The claims will be assigned to the purchaser in the purchase agreement; order documents, specification of works, acceptance report and technical documentation, including the electrical measurement report and watertightness test, will be handed over.

The purchase agreement separately states the share attributable to the land and the value of the fitted kitchen, including appliances. The land share is derived from the official land standard value information, while the kitchen value is based on the purchase receipts; both supporting documents will be attached to the draft purchase agreement. The apartment accounts for a calculated land share of approximately 45 m². Since the apartment will be handed over fully renovated, the purchaser will incur no acquisition-related renovation expenses. Please have your tax adviser review the tax implications; we do not provide tax advice.

The transfer of benefits and burdens takes place after notarisation and payment of the purchase price; the date will be agreed individually.

Legal notice
DCB Projektentwicklung GmbH, Heiligengeiststraße 16, 21335 Lüneburg
Managing Director: Dennis Christian Bosse
Telephone 04131 2847451 · dcbpe@dcb-immobiliengruppe.de
Commercial Register Court: Local Court of Lüneburg, HRB 212651
VAT ID No.: DE362623855

Permit pursuant to Section 34c (1) of the German Trade Regulation Act (GewO), issued by the Lüneburg-Wolfsburg Chamber of Industry and Commerce, Am Sande 1, 21335 Lüneburg, which is also the competent supervisory authority.

We are neither obliged nor willing to participate in dispute resolution proceedings before a consumer arbitration board.

Location

Location details

The property is located in Lüneburg’s Kaltenmoor district. The Wilhelm-Leuschner-Straße bus stop is directly in front of the building, providing access to Lüneburg city center without changing buses.

The district has comprehensive local amenities, including grocery stores, a pharmacy, doctors and service providers. Daycare centers, primary and secondary schools are within cycling distance, as are sports facilities and green spaces.

Lüneburg is a Hanseatic city, university town and district capital with around 78,000 inhabitants. The railway station, with hourly connections to Hamburg, is just a few minutes away. The sustained demand for small rental apartments is driven by students, commuters and single-person households.