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  • Saxony
Price £183,059
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Property Description

This apartment house lies in the tourist town of Aue in Saxony. The corner property dates back to 1900 although subsequently modernised in 1993-4. The property comprises of seven residential units (550m2) and one commercial unit (137m2) all on a plot size of 258m2. The property has central heating and a cellar.

This tenanted apartment house has a current rental income exceeding 25,000 euros annually delivering an excellent yield of 11%. Anticipated rental income however exceeds 28,000 euros delivering a potential yield of 12.2%.

Aue is a town in the Free State of Saxony, Germany, with 18,000 inhabitants. Today, it is developing its tourism industry and is located close to a large national park area. Historically a mining town which had been known for its copper, titanium, and kaolinite, which was used for Meissen porcelain. Aue was a centre of engineering and cutlery during the German Democratic Republic. Aue is situated 30km south-west of Chemnitz and 110km south of Leipzig.

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