Reichenbach

£40,000

Description

Reichenbach, Vogtland in Germany.

Buy To Let

20% Below Market Value

MOTIVATED SELLER

The Deal

Advertised Price  – £50000 + Legal and Sourcing Fees.

Negotiated Price – £40000 + Legal + Sourcing fees

Sourcing Fees £5000

Total Price £45000 + Legal fees

Description

The Mansion

This large mansion house sits on a quiet respectable road in a busy location next to the town of Reichenbach, Vogtland in Germany. The Property is ready to sell to the right buyer. This huge property consists of 6 good sized apartments, accessed via a large gothic style corner entrance.

One of the apartments is renovated, so the owner can live in this whilst Refurbishing the others, the property has a generously sized staircase, making this is a very grand property.

Rental prices are Buoyant in the area so expect 400 Euros from each apartment each month, that comes out at 2400 Euros per month, try beating that return on a UK investment property (Or in fact anywhere in Europe)!

The mansion has a mix of gas central heating and solid fuel heaters.

The internal usable internal space is 330 SQM.

The roof is good, the property needs refurbishment but is in a good solid condition.

The Location

The town of Reichenbach has a population of around 4000, the town is 22 KM from the city of Plauen, and 22 KM from Zwickau. Other properties in the street have already been renovated, just one is currently under renovation and almost complete.

All homes in the street are occupied apart from the one under renovation. Just across the road, you will find a baker and Coffee shop, you are 2 mins into the centre of the town, a garage is nearby for fuel too.

The property is freehold and ready to go, all enquiries welcome. The property is priced at a bargain £40,000.

 

Virtual Tour

Location

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