*No fees* Multi-family house with great potential.

For sale is a multi-family house with six residential units, located in a desirable, green residential area. Built around 1910, the property boasts a solid construction, functional layouts, and significant potential for future development. The 1st floor and attic each contain two well-proportioned 2-room apartments. The ground floor features a 2-room and a 3-room apartment. Currently, five of the six residential units are rented out. An apartment on the 1st floor (right side) was renovated in 2025 and re-rented on April 1, 2026, including a new fitted kitchen. Another unit (attic, left side) has been terminated and will be available on May 31, 2026, offering additional potential for increased rental income. The building is in good condition. Significant renovations were carried out after 1990 and in subsequent years, including:
• Facade renovation
• PVC windows (street-facing with external shutters)
• Gas-fired central heating
• Partial electrical system upgrade
• Modernization of sanitary areas, bathrooms with bathtubs and/or showers, toilets, and sinks
• Flooring: Laminate, PVC, and tiles
The courtyard was completely repaved in 2020. The enclosed property is accessible by car from the street. An outbuilding provides tenants with practical storage, warehousing, and workshop spaces. In addition, there is a small green area in the courtyard and behind the outbuilding. Overall, the property is in a good condition and offers further development potential.

Current annual rental income: €17,928.00
Projected annual rental income: approximately €22,000.00
Current net initial yield: 11.3%
Multiple of current annual rental income: 8.9
Multiple of projected annual rental income: 7.2
Price per square meter of living space: €453/m²

Altenburg is located in eastern Thuringia and is known as a former residence city with a historic old town, a castle complex, and good regional infrastructure.

The property is situated in a quiet and green residential area of Altenburg, on Rasephaser Straße. The surrounding area is characterized by residential buildings, small green spaces, and a well-established community.