A multi-family house in the sought-after Brühlervorstadt district of Erfurt has been sold to a regional property company. The transaction, for which confidentiality regarding the exact purchase price was agreed, took place at a factor of 19 based on the annual net cold rent. The sale was made by a private owners' association, which had previously owned the property. The processing was handled by property consultants Marko Hebold and Matthias Kürschner from Engel & Völkers Erfurt Commercial, who supported both contracting parties with advice and brokered the deal.
The property in question, which dates back to approximately 1910, is a fully-basemented multi-family house. It comprises a living area of around 700 square metres, with the attic already converted, thus offering additional living space. The property is characterised by its well-maintained condition and features a spacious garden available to residents.
Property Features and Location
The property has undergone a core renovation, which suggests modern fittings and a good condition. This is also reflected in the energy performance indicators, which are in the C range. The location in Brühlervorstadt is considered attractive and in demand, which underlines the stability of the investment.
With this purchase, the acquiring regional property company secures an established existing property in one of Erfurt's preferred residential areas. The acquisition of a property with ten residential units in this location and condition highlights the continued high attractiveness of residential properties in prime urban locations such as Erfurt.
Significance for the Property Market
This transaction confirms the sustained demand for high-quality multi-family houses in the region and investors' willingness to invest in properties with stable rental income and good substance. The involvement of experienced consultants underscores the professionalism of the transaction and the importance of sound market knowledge for both sides. The factor of 19 reflects the market valuation for such properties in comparable locations.
