House for sale • 351 m² without real estate, Thuringia

For sale is a multi-family house with six residential units in a good, green residential area. The building, constructed around 1910, impresses with its solid construction, functional floor plans, and sustainable development potential.

On the first floor and the attic, there are two well-designed 2-room apartments on each level. The ground floor comprises a 2-room and a 3-room apartment. Currently, five out of the six residential units are rented.

One apartment on the first floor (right) was modernized in 2025 and, along with a fitted kitchen, has been newly rented as of April 1, 2026. Another unit (attic, left) has been terminated as of May 31, 2026, opening up additional rent escalation potential.

The building is in solid condition. Significant renovations were carried out after 1990 and in later years, including:

• Facade renovation

• Plastic windows (street side equipped with external blinds)

• Gas-fired individual heaters

• Partial renewal of the electrical installation

• Modernization of the sanitary areas—bathrooms with a bathtub and/or shower, toilet, and washbasin

• Floor coverings: laminate, PVC, and tiles

The inner courtyard was completely repaved in 2020. The fenced property is accessible from the street. A utility building provides tenants with practical storage, storage, and workshop areas. Additionally, there is a small green area available in the courtyard and behind the utility building.

Overall, the property presents itself in a neat overall condition with additional development potential.

CURRENT annual rental income: €17,928.00

TARGET annual rental income: approx. €22,000.00

CURRENT net initial yield: 11.3%

Multiple of current annual rental income: 8.9

Multiple of target annual rental income: 7.2

€/m² of living space: €453/m²

Altenburg is located in the eastern part of Thuringia and is known as a former residence city with a historic old town, a castle ensemble, and good regional infrastructure. The property is situated in a quiet and green residential area of Altenburg, on Rasephaser Straße. The surroundings are characterized by residential development, small green spaces, and an established neighborhood.