Refurbished apartment building with rental growth potential in a very good location!

The apartment building was originally built in 1913 and rebuilt in 1955 except for the basement. The building was erected on a plot of approx. 606 m² in 3.5-storey construction. The property has a total living space of approx. 700 m², spread over 11 residential units. Eight apartments are equipped with a new balcony attached to the rear. The property includes a beautifully landscaped garden, which can be used by all tenants.

The property is in a very good state of refurbishment. Extensive renovation work took place between 2021 and 2025. Some of the apartments were modernized (new floors, new radiators, bathroom renovations), the doorbell system was replaced and the stairwell was renovated. The insulation of the top floor ceiling was adjusted and the electrical sub-distribution in the basement was renewed. In addition, two attic apartments were redesigned and renovated. All apartments have a fiber optic connection for fast internet. The property is heated by a new gas
gas central heating system from 2021. The hot water is heated by new instantaneous water heaters. The property also has double-glazed plastic windows. The apartments each have a separate cellar room. Tenants also have access to a laundry room for shared use.

The apartments range in size from approx. 35 m² to 95 m² and are easy to let. One apartment is currently vacant, which is being renovated and will be rented out again at the time of sale. The annual net rental income amounts to € 48,360.00 with a rent increase that has already taken place.

Looking ahead, the property offers potential for further rent increases. The average rent in Magdeburg is € 7.21/m². There is certainly potential for rent increases in this property. In view of the ongoing maintenance and refurbishment measures, the property is in very good
the property is in a very good and modern condition.

The property is located in the Neue Neustadt district, which still bears witness to the Napoleonic buildings around Nicolaiplatz and Moritzplatz. In addition to many cultural experiences such as the Moritzhof or the Studiokino, you will also find a green recreational area near the Elbe, with very good local amenities and a variety of educational, children's and youth facilities as well as good connections for motorized private transport. The "Neue Neustadt" train station is in the immediate vicinity. All necessary infrastructural facilities, such as schools, kindergartens, shopping facilities and medical care are available here. Leisure activities include the Florapark and an outdoor swimming pool. The surrounding area is characterized by detached houses and multi-storey residential buildings. There are direct links to public transport. You can quickly reach the A2 and A14 highway connections via the tangent.