Large mansion house on quiet respectable road in busy location next to the town of Reichenbach, Vogtland in Germany. Ready to sell to the right interested buyer, this property consists of 6 good sized apartments, accessed via a large gothic style corner entrance. One of the apartments is renovated, so the owner can live in this whilst doing the others, the property has a generously sized staircase, this is a very grand property.
Expect to earn around 400 Euros per apartment when each has been revitalised, thats 2400 Euros per month / 28,800 per year / 288,000 Euros in 10 years, thats a massive ROI!
Rental prices are Buoyant in the area so expect 400 Euros from each apartment each month, that comes out at 2400 Euros per month, try beating that return on a UK investment property (Or in fact anywhere in Europe)! Your town has a population of around 4000, the town is 22KM from the city of Plauen, and 22KM from Zwickau. Other properties in the street have been renovated, only one is currently under renovation, almost complete. All homes in the street are occupied apart from the one under renovation, and a commercial property that has just been renovated across the street. Just across the road you will find a bakers and Coffee shop, you are 2 mins into the centre of the town, a garage is nearby for fuel too.
The mansion has a mix of gas central heating and solid fuel heaters.
The internal useable internal space is 330SQM.
The roof is good, the property needs refurbishment but is in a good solid condition.
The property is freehold and ready to go, all enquiries welcome.