Here we have for sale a lovely block of Flats with potential to increase the accommodation space & great income potential.
This extremely unique house was built around 1900, The building have solid structure & built with quality and perfection in mind in the old times.
The building is located within a short distance from shopping center, train station and historic museums & parks.
The sale is for the full block of flats, on a full freehold basis, the house is free from any mortgage or loan.
Zwickau has an excellent range of shopping and leisure facilities, including a variety of restaurants, theater, art venues, park amenities, train station taking you into various parts of central Europe is within few miles from the Residence.
If you type in the following address into Google Maps, you would be able to see various information about the location, the house and the 780 m2 freehold site:
House Number: 10
Street Name: Brauereistrabe
Area: Cainsdrof, 08064 Zwickau
The house is currently divided into 6 flats, two on each floor (Ground, First & Second Floor).
Each flat have a large lounge, a double bedroom, small kitchen & separate bathroom, the layout of each flat can be changed to provide a more versatile accommodation space.
The basement may benefit from a new conversion but is currently not utilised apart from housing the boiler for the central heating.
The loft area extend to the full size of the roof with large panels of timber covering the ceilings & the floor, Again this area could be converted to provide extra space.
Annex & garages:
Apart from the above main house as described above, there is an annex (other buildings at the back garden, as shown on photos), these buildings needs modernization to provide extra living accommodation or used for any communal facilities.
The main entrance of the building is situated at the back of the property, the door seen at the front of the property leads to one flat, which was used in the past as a studio of some kind.
The six flats have been modernized several years ago but they require some updating including new bathrooms, kitchens, rewiring, updating the central heating, new flooring, decorations & other renewals,
The house benefits from a relatively new roof, the pervious owner informed me that it cost around 22,000 Euro.
The area have several car manufacturing facilities, Other factories, offices, Universities. So it should be relatively easy to find tenants in Germany as most people tend to rent, rather then buy.
After the modernisation is completed, I anticipate a rental income of £250 to £300 per flat per colander month, so it depends on what you do with the property, you could create more flats or studios increasing the income, you could of course use it as your main residence or use it for any other purposes subject to obtaining planning permission or change of use from the local authorities.
A Notary in Germany, the equivalent of a Solicitor firm (in the UK), would oversee & secure the transfer of ownership after conducting the required searches, a contract would be provided in German & English and you are required to view the property and sign contracts in Germany.
If you win this property then a 10% deposit is required via PayPal within 24 hours of end of auction or listing.
Completion is required within 4-5 weeks & the balance need to be paid directly to the Notary designated account in Germany once instructed by the notar.
If you have any questions, please ask, thank you.