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Factor 18.1 / Rental yield 5.52% / Newly renovated, rented out as student accommodation, includes a garage, no commission fees.
Bernhard-Letterhaus-Straße 2, 21337 Lüneburg – NiedersachsenPurchase price: €299,000 for the apartment and garage (apartment: €284,000, garage: €15,000). Annual rent: €16,500, including rent for the garage. Yield factor: 18.1. Gross rental yield: 5.52%. This property is offered commission-free.
Are you looking for an investment property that generates income from day one, without the hassle of dealing with maintenance or finding tenants? This three-room apartment, measuring 70.75 m², located on the 2nd floor, was completely renovated in 2026 and has been fully rented since October 1st. It includes a garage with its own land registry entry. The apartment and garage will only be sold together.
The apartment is rented to students as a shared living space, with three separate lease agreements. This diversifies the risk: if one tenant moves out, the other two leases continue unchanged. A parent acts as a co-tenant for each lease, and both parties agree not to terminate the leases until September 30, 2027. All three rooms were filled within two weeks of the property being put on the market for rent. The garage is rented for a net monthly rent of €100, and the rental agreement is ongoing.
This package is well-structured for investors who are interested in the net return after taxes. The purchase agreement separately lists the land, the building, and the new fitted kitchen. This provides a clear basis for your depreciation calculations. Generally, the kitchen can be depreciated much faster than the building, and property transfer tax typically does not apply to the kitchen component. If you hold the apartment for longer than ten years, any capital gains from a sale are currently tax-free for private investors. Please discuss the specific implications for you with your tax advisor. Ongoing costs: monthly service charges are €265, including €84 for the reserve fund. An additional €14 per month is for the garage. The community's maintenance reserve fund currently stands at approximately €182,700.
Are you interested in this apartment?
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Object Number
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OM-493443
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Object Class
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Apartment
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Object Type
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Apartment
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Is occupied
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Occupied
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Handover from
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By arrangement
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Purchase price & additional costs
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purchase price
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284.000 €
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Purchase additional costs
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approx. 18,228 €
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Total costs
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approx. 302,228 €
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Purchase price garage/parking space
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15,000 €
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HOA fee
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265 €
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Breakdown of Costs
* Costs for notary and land register were calculated based on the fee schedule for notaries. Assumed was the notarization of the purchase at the stated purchase price and a land charge in the amount of 80% of the purchase price. Further costs may be incurred due to activities such as land charge cancellation, notary escrow account, etc. Details of notary and land registry costs
Does this property fit my budget?
Estimated monthly rate: 1,197€
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Details
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Condition
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Rehabilitated
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Number of floors
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7
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Level
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2nd floor
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Bathrooms (number)
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1
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Bedrooms (number)
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3
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Number of garages
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1
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Flooring
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Parquet, Tiles
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Heating
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Central heating
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Year of construction
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1972
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Equipment
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Balcony, Basement, Elevator, Shower bath, Fitted kitchen
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Information on equipment
The apartment was completely renovated in 2026:
• New shower room with a walk-in shower, low-profile shower tray, glass partition, overhead and hand shower, wall-mounted toilet, mirrored cabinet with LED lighting, and a towel radiator.
• Large-format tiles, light gray on the walls and anthracite on the floor, black fixtures, and a washing machine connection in the bathroom.
• New fitted kitchen by Hano, Linea series, with white gloss fronts and Bosch appliances: induction cooktop, oven, dishwasher, refrigerator-freezer combination, and a slimline extractor hood.
• New electrical installation according to VDE 0100, with a new distribution board, Gira switches, and smoke detectors.
• All cold, hot, and wastewater pipes have been replaced in the bathroom up to the building's main risers and downcomers. The existing supply lines in the kitchen have been inspected and remain in place.
• Parquet flooring has been refurbished in the rooms and hallway, while a new design flooring has been installed in the kitchen.
• Walls and ceilings have been repainted, doors have been painted white, and radiators have been repainted.
• Balcony facing a quiet west-facing side, with afternoon and evening sunlight, and a new floor covering.
• Storage room within the apartment, and a private cellar compartment.
• Elevator, laundry room, drying room, and bicycle storage in the building.
• District heating, energy efficiency class B.
The garage is located in a covered communal garage complex just a few steps from the building: sectional door, internal dimensions approximately 2.72 x 4.81 meters, and a 7-meter wide driveway.
Location
The house is located at Bernhard-Letterhaus-Straße 2 in the Kaltenmoor district of Lüneburg. Its main advantage for renters is its excellent transport links: a bus stop is located directly in front of the building, and the city center and Leuphana University are easily accessible without a car. This is exactly what students are looking for.
The district offers shops, doctors' offices, and schools, and the parking garage is just a few steps from the house. Lüneburg is a Hanseatic city and a university town with direct train connections to Hamburg. Consequently, there is a steady demand for shared rooms and small apartments.
Location Check
Energy
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Final energy consumption
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71.00 kWh/(m²a)
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Energy efficiency class
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B
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Energy certificate type
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Consumption certificate
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Main energy source
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District heating
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Miscellaneous
Energy Performance Certificate: Consumption certificate, final energy consumption 71 kWh/(m²·a), main energy source: district heating, year of construction: 1972, energy efficiency class: B.
Here's how to proceed:
• You will receive the detailed property description with floor plan and all relevant figures. We are happy to answer your questions by phone or video call.
• Upon request, you will receive the complete documentation package, including condominium documents, rental agreements (without personal data), and the original, unedited photos.
• You can view the building and garage complex from the outside at any time. We would be happy to show you the garage.
• If this property seems like a good fit for you, we can arrange a personal viewing of the apartment. Since it is currently occupied, we will coordinate the appointment with the tenants with consideration.
Note regarding the photos: The images have been edited using AI to improve their presentation, including adjustments to lighting, color, perspective, and retouching. You will receive the original, unedited photos with the documentation and can view them at any time.
Broker inquiries not welcome!
Send a message directly to the seller
Questions about this apartment? Show interest or arrange a viewing appointment?
Click here to send a message to the provider:
Offer from: Dennis Bosse
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