New price. Rented condominium ownership package (63% share) near Stadthalle with over 4.5% yield

A majority stake of ca. 63 % of the ownership is for sale. This includes the entire building, with the exception of the two top gray attic layers as well as various common areas and basement areas. The house is in a very good and well-maintained condition. The property is located near the district development concept "MITTE 15", which aims to improve the green and open space offerings, reduce barriers caused by railway facilities, and contribute to climate protection and adaptation to climate change.

• Plot size according to the land register ca. 615 m²
• Total usable area of the existing building ca. 752 m²
• Apartment Top 4 ca. 80 m²
• Apartment Top 5 - will be vacant as of Sep. 2026 ca. 80 m²
• non-binding estimated new-build usable area on the courtyard side ca. 356 m²
• + external areas ca. 134 m²
• Purchase price: € 1.790.000,-

The apartment ownership package comprises five units in total, of which four are rented on an indefinite basis and one is leased until September 2026. The annual net main rent amounts to about € 83.000.- which provides an extremely attractive yield of over ca. 4.5 %. According to the forecast from the property management for 2025, no major renovation/maintenance works are planned. The repair reserve currently amounts to over € 36.000.-.

The 5 tenants are:

• Two associations (billiards club and kindergarten), which have been loyal tenants for over 20 years and have also remained without rent arrears during the pandemic.
• Two apartments on the 2nd floor: one is leased until Sep 2026 and is in a renovated condition, the other is leased indefinitely and was occupied about 20 years ago.
• A recording studio in the basement, also with a sustainable tenant. Due to the proximity to the Stadthalle, the studio is frequently used as a rehearsal venue for performances.

Potential:

Expansion potential on the courtyard side: 356 m² + outdoor areas of 134 m²

A major advantage is that the owners have already agreed to the courtyard-side expansion in the condominium agreement. In addition, during the attic expansion, important reinforcements on the courtyard side were already carried out, and a lift is also available!

A long-standing tenant in the courtyard building, a billiards club, welcomes the planned expansion. Many of the demanding criteria for the project have already been met, which further facilitates implementation.

Designation:

Street-side - W IV, height restricted to 18 m.

Courtyard-side - there are two different designations: W II / g & W GV I / g / 4.5 m