7.8% net rental yield – Attractive multi-family building in the heart of Gotha with potential for increase

Welcome to an impressive property in the heart of Gotha, offering a generous total living area of approx. 620 m² and several, in some cases fully furnished, residential units as well as a commercial unit. Built around 1908 in solid construction, this apartment building with an extension combines historic fabric with a contemporary condition and a high level of living comfort. The façade is a listed monument and offers attractive tax depreciation options for future measures. A comprehensive refurbishment was carried out in 1994; in 2023–2024 the apartments WE 1 to WE 6 were modernized to a high standard (new floor coverings, painting, fitted kitchens, full furnishing). The property now presents itself in a very well-maintained and marketable condition. The front building has a full basement; the extension is partially basemented. At the rear there are two parking spaces, a garage, and a seating area. Three spacious, enclosed loggias facing southwest extend the living areas with sheltered spaces. Well-kept outdoor areas complement the representative overall appearance. Fully equipped kitchens, built-in wardrobes, and separate sanitary facilities underscore the high-quality standard of fittings. Residential, letting & usage concept The average net cold rent is approx. €60,000 p.a., corresponding to a net yield of approx. 7.8%. In addition, there is short-term income potential through re-letting the commercial space at approx. €600/month and letting two parking spaces at approx. €60/month. This results in a realistic target rent of approx. €67,920 p.a. and a net yield of approx. 8.9%. The vacant office space can be re-let very well and also offers additional potential for conversion into residential space. Even with traditional long-term letting, attractive and stable income can be achieved due to the location, condition, furnishings, and demand— a rare opportunity to acquire a substantial property with versatile income and development prospects.