On offer is an excellent low risk, high yield property in Europe's largest economy. An apartment complex consisting of two separate buildings with a combined residential area of
34,582.83 sqft (3,212.85 square metres) divided into 55 modernised apartments. The complex is situated on a 53,819 sqft (5000 square metres) plot of land (freehold), which is included in the sale.
The buildings were constructed in 1979 and subsequently upgraded in 2001 and 2002 by their current owner. The upgrade included the renewal of the roofs, modernizing the heating system, installing double-glazed windows and refurbishing the façades, hallways, stairways as well as modernising twenty apartments. As a result repair costs are minimal. As typical in Germany, general operating, heating and maintenance costs are covered by a service charge paid by the tenants on top of their monthly rent.
The apartment complex is located in walking distance of the town centre of the medieval town of Jüterbog, 30 miles south-west of Berlin in the Teltow-Fläming district and celebrated its 1000-year anniversary in 2007. The town is an important node for railway transport and car traffic between Germany's major eastern cities of Berlin, Dresden and Leipzig.