House for sale • 509 m² without real estateSchmelzhüttenstraße 28 Gera Gera Thüringen 07545

The multi-family building with a retail space is located on the edge of Gera’s city center. The building at Schmelzhüttenstraße 28, constructed in 1906 using solid construction methods, underwent extensive renovations in 1998/99. During the renovation, an elevator was added to the staircase. Since then, all maintenance work has been regularly carried out and tenants’ renovation requests have been met.

On the ground floor, there is a retail unit. Above it is a spacious family apartment, and the upper floors are each divided into two apartments. Some of the apartments have balconies. The finishings correspond to a medium standard. The leasable area is approximately 441 m², with an additional 68 m² for the commercial unit. In recent years, the units have largely been rented, with any vacancies only lasting briefly. The management is handled by an on-site property management company. Currently, only a 2-room apartment of 50 m² remains unrented.

The rented units generate an annual net cold rent of around €27,800 (with a target of roughly €31,000, factor approximately 15.2).

In the rear building, the ground floor is used as storage for the commercial unit. On the upper floor, there is an apartment that has not yet been renovated. Once refurbished, there is additional income potential here that is not reflected in the current rent. The building is suitable as an income-generating investment property with ongoing management and development potential in the annex.

The property can be purchased together with the property at Heinrich-Heine-Straße 13 as a package.

Schmelzhüttenstraße 28 is located in the downtown district of Gera, on the edge of the historic center. The market and the old town are about a ten-minute walk away, and the Gera Arcades on Heinrichstraße are roughly five minutes away. Shops, bakeries, a pharmacy, and smaller stores are in the immediate vicinity.

Gera Süd train station and the Südbahnhof/Sachsenplatz bus stop are approximately 200 meters away. Tram and bus services connect the neighborhood via Heinrichstraße. The Youth Park is nearby. Daycare centers, including the House of the Child on Enzianstraße, as well as schools, are readily accessible in the district. The Rutheneum, a traditional high school, is also located near the center.

With around 96,000 principal residences, Gera is the third-largest city in Thuringia and is situated on the White Elster. The city is connected to the regional network via Federal Highways 2, 7, and 92, as well as the A4 motorway with the Gera-Langenberg and Gera-Leumnitz interchanges. Leipzig, Erfurt, and Chemnitz can each be reached in about one hour. The cultural offerings include a theater, the Kabarett Fettnäppchen, a cultural and congress center, a zoo, and several museums. In 2007, Gera, together with Ronneburg, hosted the Federal Horticultural Show.