Solid investment with expansion potential and location security in Dresden Klotzsche

This attractive apartment building with 11 residential units and a spacious plot with parking spaces, garages and a green area is for sale. Built in 1912, the building was gradually renovated and modernized from 1996/97 and is currently in a solid overall condition. The property has a full basement, which also houses the modern gas condensing heating system that was replaced in 2023. Until a few years ago, the building was divided into twelve 2-room apartments, but two apartments on the 1st floor were merged to form a spacious 4-room apartment. 6 apartments have a conservatory adjacent to the living room. All apartments (except one) are rented for an indefinite period, as is the garage in the outbuilding and 3 parking spaces. The interior photos are from different apartments and show the different furnishing and modernization standards of the individual units. One unit was last used by the owner and will be vacated upon sale. Although all residential units are in rentable condition, some cosmetic repairs will be required in the coming years.
The current annual rent per annum is currently EUR 56,455 plus management costs. The additional letting of the apartment currently used by the seller and the unlet garages and parking spaces would immediately increase the income to an annual rent of over EUR 65,000. The building also has additional rental growth potential, as additional rentable space can be created through a possible conversion of the loft space. This would increase the rental space by a further 150-170 m². The loft has already been cleared for this purpose and is not rented out, so there would be nothing to prevent an extension immediately after acquisition.

Located to the north of Neustadt, on the edge of the Dresdner Heide, the Klotzsche district boasts an attractive residential environment with a relaxed development pattern and plenty of greenery, as well as a very good infrastructure and perfect transport connections. The residential area has become increasingly popular over the years due to the establishment of large microtechnology companies and renowned research institutes in the immediate vicinity. The location will continue to increase in value in the future, as more companies will be moving into the area in the near future and the rental market and achievable rents will therefore rise significantly.
The proximity to the directly adjacent Dresdner Heide and the perfect bus and train connections are undisputed advantages of the location of this property.