Project No.: 201813
The fully rented multiple dwelling unit was built in 1933 and makes dreams of a perfect home come true. The prime location in the centre of Gera, right next to a city park and with a direct path to the White Elster river, is the crowning glory of this building.
About the property
- Project category: Residential property
- Project type: Existing properties
- Building: 1933
- Purchase: 2018
- Investment amount: EUR 275.000
- (planned) revenue*: EUR 500.000
Note: *) This value is a forecast.
Gera is part of the thriving metropolitan region of Central Germany and the second largest city in Thuringia after Erfurt. It is surrounded by gently rolling countryside in the east of the state and was one of the richest cities in Germany in the 19th century due to its flourishing cloth industry. Numerous villas from this period still stand today and have left their mark on the city’s streets.
Gera was regarded an important industrial location up to 1990 and is trying to build on this today. Apart from various manufacturing companies from the automotive supply industry, engineering and precision engineering, Gera is focusing mainly on the service sector and the technology industry. More than 40 modern technology companies are already based in Gera. A large discounter warehouse and a letter sorting centre of Deutsche Post have also created new jobs. However, the city’s largest employer is currently the Wald-Klinikum, a teaching hospital of the University of Jena, with around 1,800 jobs.
Gera offers its approximately 90,000 inhabitants a high standard of residential quality. The birthplace of the painter Otto Dix has a varied cultural life and a variety of green spaces such as the extensive municipal forest and the area of the former German Federal Garden Show. Gera is also an official university city and has an optimum infrastructure. The public transport network is excellent. There is an airport and three connections to the A4 autobahn. In addition, the Hermsdorfer Kreuz autobahn intersection is only about a 15-minute drive away.
Georg-Büchner-Straße is located in the Debschwitz district about 1.5 kilometres south of the historical centre. The area is densely populated and covered mainly with large apartment buildings. The district has been part of Gera since 1912 and is fully developed and popular. Gera Süd railway station is about 500 metres away. In addition, there are various tram and bus lines in the immediate vicinity.
Georg-Büchner-Straße runs parallel to the Weiße Elster river, which is about 100 metres away. The Elster Cycle Route, which has a total length of 250 km, runs along its eastern bank. It is just one of the many attractions within walking distance of the property. The zoo in the middle of Gera Municipal Forest, the almost 100-year-old Dahlia Garden and the look-out tower on Fuchsberg hill are also located in the Debschwitz district of Gera.