House for sale • 561 m² without real estate, Thuringia

Below is the English translation of the text marked with the tag:

8-unit multi-family house without broker with a 5.7% yield in the center of Apolda – Top Investment!

Highlights

Purchase price: €960,000

No broker fee – direct from the owner!

Current Rent: €4,563 per month (€54,756 per year)

Current Yield: 5.7%

Target Rent: €5,310 per month (€63,720 per year)

Target Yield: 6.7%

Units: 6 residential units, 2 commercial units

Good tenant structure with no rent arrears

Total area: approx. 553 m²

(Living area: approx. 381 m² / Commercial area: approx. 150 m² / Usable area: approx. 170 m²)

Plot: approx. 213 m²

Year of construction: ca. 1898

Condition: partially/fully renovated

Directly in the city center – it doesn’t get any more central than this

Reason for sale: Routine sale following value enhancement by the investor

-> See the renovation status at the very bottom

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Property Description

Welcome to Apolda, the “bell city”!

This well-maintained and partially renovated residential and commercial building is situated right in the heart of Apolda and stands out as an attractive investment with solid rental income and development potential.

The historic building, dating from 1898, comprises 6 well-designed residential units and 2 commercial units on the ground floor. The owner, an investor, has significantly enhanced the value of the building over the past few years. With every tenant change, the apartments have been completely renovated, ensuring that the property is in good overall condition. It is fully leased and shows no significant rent arrears.

The rents are always paid on time:

• 4 units with an assignment of claims from the Jobcenter (reliable tenants)

• 2 units reliably rented by employed tenants

• 2 units reliably leased to solvent commercial tenants (long-term leases)

Additional rental potential: Unleased attic spaces, cellar rooms, plus larger spaces than stated in 5 older leases

In the past, problematic tenants led to terminated rental agreements. Nowadays, a pleasant living environment prevails with no significant incidents. In its early years, the building required intensive management – but through consistent administration, all issues were gradually resolved and the tenant mix improved. Currently, the management effort is minimal, with all details properly recorded and documented (contracts, meter numbers, smoke detectors, tenant data, etc.). Moreover, there is one tenant who officially serves as the caretaker for all concerns – ideal for investors seeking minimal hassle.

The property has been continuously maintained and provides immediate income as well as long-term potential – whether for asset security, retirement planning, or portfolio expansion. Additionally, further revenue opportunities exist due to 5 older leases that offer less living space than available, as well as unused usable and parking areas.

Overview of Renovation Status:

• 4 units are in like-new condition; the other 4 are in standard condition (from the mid-'90s). One residential unit features a balcony.

• Long-term commercial leases (the tenants have invested in enhancing these units)

• The electrical system is in proper order and complies with relevant safety standards (copper wiring, residual-current devices, etc.)

• The cellar is dry and offers ample usable space – although the cellar ceiling will need reinforcement in the long term.

• Not a listed (heritage) building

• Heating: Currently, a Viessmann gas central heating system is in use. The city of Apolda is presently discussing a contracting offer in which the replacement of the heating system—along with consumption and maintenance—is billed via a modest monthly fee that can be fully passed on to tenants, resulting in zero long-term costs for the owner.

• The roof is in very good condition, all seals are functioning, and minor repairs have been promptly carried out.

• The staircase could use a fresh coat of paint, but overall is in good condition.

• Energy efficiency class E – does not fall under the medium-term “Worst Performing Building” category.

• The door intercom system was completely renewed in 2024, including an intercom device.

• 2024 – Installation of a fire protection door in the heating cellar.

• No ground lease, no environmental liabilities, no building restrictions – everything is in order.

Location

Apolda – located in the triangle of Weimar, Jena, and Erfurt – is renowned for its rich cultural history and industrial heritage (bell casting, textiles, automotive manufacturing). Its central city-center location provides tenants with walking access to shopping facilities, public transportation, schools, and medical services.

With its growing popularity among young families, creative professionals, and commuters, Apolda is a location with stable demand. This residential property is ideal for investors or capital owners looking to secure their retirement while benefiting from Apolda’s anticipated appreciation in the coming years. The Carl Zeiss Jena group is building an entirely new production facility in Isserstedt just outside Apolda, with all permits already in place. The influx of new specialists is expected to drive significant value growth in Apolda in the next few years.

Furthermore, residents from Jena and Weimar are increasingly moving to Apolda – people who want to live in a city but can no longer find suitable housing in the larger cities. The population trend is upward and has seen a significant increase, especially since January 2025.

Where’s the Catch?

The sole remaining issue with the building concerns the cellar, which was damaged by heavy rains between 2017 and 2020. The exposed steel beams have suffered from corrosion and will eventually need to be renewed or replaced. Professional interim safety measures have been implemented and approved by a structural engineer. Local construction firms have already discussed various solutions – ranging from adding a steel substructure, densifying the entire cellar, to a complete renewal of the cellar ceiling. All options have been evaluated, and the seller is willing to share this information with the buyer. However, the seller does not wish to oversee any further major renovation work on the property.

During the next major renovation of the building, the new owner could reinforce the cellar ceiling as part of the overall upgrade.