Multi apartment blocks Large 3 apartment home for sale Germany

Short Overview

A warm welcome to this investment property in Schmölln, Germany.

This 3 storey property is ripe for renovation. Plenty of internal space to work with. 80% of the German population rents rather than owns, the incoming population increases by an average of 150,000 per year, new homes are required, this will more than accommodate 3 housing units.

The town of Schmölln sits in stunning Thuringia. Thuringia is known for its deep unspoiled forests, punctuated with mountain peaks and medieval villages. The Thuringian capital is Erfurt. Erfurt is home of the mighty 8th-century cathedral Erfurt Cathedral, where Martin Luther, father of the Protestant Reformation was ordained.

Your town has everything a town should have including multiple supermarkets, a few hotels (We recommend the Hotel & Restaurant Bellevue), a gym, beauty salon and more as well as the essentials (Post office etc). You'll be glad of a petrol station right here in the town, and "Freizeitbad Tatami" (Friebad being the German word for swimming pool). Freizeitbad Tatami is a big outside family pool with slide, deck chairs and more, accessible from May until the start of winter. Freizeitbad Tatami has the biggest outdoor pool in the region.

Your street is attractive and as far as we could see, fully occupied, the town was bustling with shoppers, parents with kids and local businesses clearly doing brisk business.

The building has 130SQM of internal living space. You'll be pleased to hear that you can put whatever windows you like etc into the property, because it’s not a listed building.

Building materials still don't cost the earth here, new windows, some work on the exterior and rendering will make the outside look like new. Inside you get to shape it the way you want it, it’s a blank canvas waiting for you to turn it into a viable rental property, fit for the future. Various grants are available for renovations in the region, we expect you to take advantage of these to minimise on the cost of renovation.

Now is the time to invest in Germany. Prices are going up and the soon you're not going to be able to buy anything in these well developed towns for less than £40K. You can buy this one to renovate and earn an income on, or leave for a bit and flip for a profit.

Annual events in town include the Badfest (Don't worry, it’s not a festival for the bad, in German Bad means Spa, when included in a town name, it refers to a spa town). The Spa fest celebrates everything aqua. The Badfest happens every July, don't miss it!

250 Sqft

6 Bedrooms

2 Bathrooms

Address

Overseas Property Ltd (UK), 85 Great Portland Street, First Floor, London, England, W1W 7LT

Octary UG (Germany), Humboldtstraße 13, 08468, Reichenbach im Vogtland

Contact Info

  • Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
  • UK call: 0800 9558878
  • USA call: 1 586 859 0542

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