Cotta, Dresden, Germany

For Sale Asking Price € 398,000

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Key Information for this property

Property Type:	Apartment	Price:	Asking Price€ 398,000
Bedrooms:	-	Offer Status:	For Sale
Receptions:	-	EPC Rating:	-

Contact the Agent

McCauley Properties

00353 74 9382110

Visit the McCauley Properties website
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Property Description

Dresden is one of the biggest cities in Germany. Its geographical positioning, on the east coast of the country, means it is commonly known as the gateway from Germany to Poland and the Czech Republic. A clean, safe and friendly town with a population of 510,071, is currently undergoing a major renovation with money being re-invested in infrastructure in areas such as roads and the development of football stadiums. The industrial town which is steeped in history lies on both sides of the River Elbe, which means the climate is cold moderate to continental. The city contains five large renowned German universities, with over 50,000 students a year; Dresden has great potential for renting in the Winter months to students and Summer months to some of the 9 million tourists who flock here each Summer.

Location: Cotta, Dresden

Excellent access to public transport; 10 min to the city centre & 10 min to River Elbe

Built circa 1930, residential building of 402sq.m with 6 apartments with basement. On street parking

Apartments range in size from 48 -106 sq.m

Fully let & Management Company in place

Building is currently under-rented with potential to raise rents by 10-15%

Rent allowed to increase by 20% over a 3 year period

70% local finance secured

Gross Yield of 7.1%

Cash flow positive before tax

Projected Returns - Immediate capital uplift with 40% discount to market once condominiumised

Exit Strategy - Local or investor resale CGT of 20%