2 Large Semi-Detached houses in need of repair with Great Potential
2 Semi-Detached Houses
On offer for sale in Germany are two semi-detached houses arranged internally to provide eight apartments. The houses are in need of some repair and are located in Leitzkau, a district in the town of Gommern, 32 kms south of Magdeburg and 149 kms west of Berlin.
Althaus 7 and 9 are freehold properties with 466 sqm of living space and a plot of 966.85. There are eight apartments in total and the building also has cellars which may be accessed internally or externally.
The property had 5 tenants up to 2014 with a gross rent of 10,164.00 Euro pa generating 18% yield pa. The property is managed by a property management company in Germany. Currently, there is only one tenant but with renovation and modernisation, the property could be rented out in its entirety.
The two houses are 500 m from the village centre which provides a good selection of offices, shops and banks and nearby is the 12th-century Leitzkau Castle. This is a wonderful buy-to-let property in Germany for the discerning investor.