Solid, fully-rented multi-family building with a 7.45% return, and annual gross rental income of €13,96.

This classically designed multi-family building was constructed in 1938 using solid brick construction and is fully basemented. A comprehensive renovation was carried out in the early 1990s, including insulation improvements, new windows, replacement of the heating and electrical systems, and conversion of the attic. The building comprises eight apartments with a total living area of approximately 770 m². Seven apartments offer three to four rooms, ranging from approximately 80 to 100 m², making them particularly suitable for couples and families. The spacious attic apartment, with approximately 160 m², features six rooms, two bathrooms, and a beautiful view of Ilmenau. All apartments are equipped with fitted kitchens. Over the past ten years, the flooring in the apartments has been renewed. The property is fully let and currently generates an annual gross rental income of approximately €62,100. The occupancy rate is exceptionally high: over the past twelve years, the total vacancy rate across all eight apartments has been less than 18 months. This corresponds to a historical occupancy rate of over 98%. Recently, three apartments were re-let without any vacancy, at cold rental rates of over €7.00 per square meter each. Based on a calculated average rental rate of €7.50 per square meter, the potential annual rental income is approximately €69,300. With a purchase price of €930,000, this represents a potential gross rental yield of approximately 7.45%, compared to 6.68% based on current rental income. This property is particularly suitable for investors seeking an established, fully occupied multi-family building with solid construction, a long history of stable rental income, and further potential for rental growth.

The multi-family building is located in an attractive, city-center-adjacent area of Ilmenau. The city center is approximately a five-minute walk away, and the two campuses of the Ilmenau University of Technology are each about a 15-minute walk.

The local amenities are excellent: a Kaufland supermarket and the new swimming pool are less than 200 meters away.

Due to the short distances to the city center, the university, shopping facilities, and leisure activities, the location is attractive to families, working professionals, and students alike.