Investment property: Multi-family house with 5 residential units + 1 commercial space in Falkenstein – no commission.

Property with existing income, character, and potential. Located at Gartenstraße 54 in Falkenstein, this is a classic multi-family building dating back to 1900, comprising a total of 5 residential units and one commercial unit on the ground floor. Currently, 4 out of the 6 units are rented. Two units are available for the new owner: an apartment on the first floor and the former retail space (bakery) on the ground floor. This property offers both ongoing rental income and significant potential for further development.

- Current rental income: €1,170 net per month (€14,040 per year) from 4 rented units.
- Projected rental income at full occupancy: approximately €21,240 per year.
- Heating system completely renewed in 2022.
- Attic floor combined and modernized in 2025 (rented).
- Purchase price: €185,000 – approximately €512 per square meter of living/usable space.
- For the buyer: no real estate agent commission.

Unit Breakdown:
- Unit 01 – Ground floor, commercial (former bakery retail space): approximately 64.72 m², vacant, requiring renovation.
- Unit 02 – Right side, 1st floor: approximately 49.03 m², rented.
- Unit 03 – Left side, 1st floor: approximately 49.36 m², vacant, requiring renovation.
- Unit 04 – Right side, 2nd floor: approximately 49.03 m², rented.
- Unit 05 – Left side, 2nd floor: approximately 49.36 m², currently rented.
- Apartment 06/07 – Attic, combined: approximately 99.93 m², renovated and rented.
The two available units:
Apartment 03 (1st floor) can be quickly re-rented with minimal renovation work; the white-tiled bathroom is already in good condition. Apartment 01 (ground floor) is flexibly usable as an office, practice, studio, or for other quiet commercial activities. A change of use to residential space would require prior review of building regulations (official permits and renovation). Return on investment indicator (non-binding model calculation, excluding acquisition costs, financing, taxes, maintenance, and management costs):
- Current situation: €14,040 annual net rent = 7.59% gross return (factor 13.2)
- Fully rented scenario: €21,240 = 11.48% gross return (factor 8.7)
The fully rented scenario is a calculation and assumes that the available units will be rented after the buyer's investment. This is neither investment advice nor a guarantee of future returns. Ideal for investors, existing property owners, and buyers with their own ideas for the two available units. Ownership structure:
The property is currently divided among three owner associations (condominium structure) and is being sold as a whole.

Falkenstein/Vogtl. is located in the Vogtlandkreis district (Saxony) and has approximately 7,400 residents (as of December 12, 2024). The town is part of the Göltzschtal regional center network.

Plauen and Reichenbach are each about 22 km away, and Zwickau is about 33 km away. The Falkenstein (Vogtl) train station is served by the vogtlandbahn (lines RB 1 and RB 5). The journey to Zwickau main station takes approximately 40 minutes, and to Plauen, approximately 45 minutes.

Facilities within the town include the elementary school at Schloßfelsen, the secondary school, as well as doctors' and dentists' offices, and a pharmacy. Gartenstraße 54 is located in the town center.

The ground floor is suitable for small-scale commercial or office use; this depends on permits and the intended use.