5% yield - Andreasvorstadt - modernized - balcony - fitted kitchen and parking space incl. - potential

I am offering a bright apartment in the Andreasvorstadt in Erfurt, which was extensively modernized in 2016 and 2022. The apartment is located on the ground floor of Bergstraße and has been rented to the current tenant since 01.01.2022. The bathroom was last modernized in 2022. Before that, the floor and kitchen were replaced. Another very big plus point is the parking space in the inner courtyard that comes with the apartment. The driveway is secured by an electrically operated access gate. The unobstructed, far-reaching view over the entire spacious and green inner courtyard from the very large balcony is a clearly unique selling point compared to many other comparable apartments in the district and Erfurt as a whole. A spacious cellar is also part of the apartment. The apartment is ideal for long-term or short-term furnished rentals. The rental demand is very high. Just like the parking space, the fitted kitchen is also included in the purchase price. The property is being sold privately without an estate agent, so there is no brokerage fee. The current net rent including parking space rent is EUR 530 per month.

As part of the modernization, the bathroom was modernized, the walls were clad with formica and a new real glass shower, a new toilet and a new washbasin were installed. Throughout the rest of the apartment, the previous floor
flooring was completely removed and high-quality designer vinyl flooring was laid. A high-quality fitted kitchen with brand-name appliances, a kitchen island and a ceramic sink were also installed. In addition, all switches and sockets in the apartment were replaced and ceiling spotlights were installed. The building's heating system was replaced in 2023. All water pipes and shut-off valves in the basement were replaced in 2025 and the pipes there were subsequently re-insulated.