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JUST REDUCED FROM 295.000,- € TO 275.000,- €!!!! Outstanding investment opportunity in one of the most beautiful cities of Germany. Massive property built in 1924 as part commercial (central bank branch and office), part residential development. Stunning former commercial area on the main floor with three independent, spacious apartments on the upper floors. Over 2.000 square meters (21.500 square feet) of constructed surface. Very bright and sunny. Huge lot of over 3.300 square meters (35.500 square feet) with an immense garden and many fruit trees. 300 m2 terrace (3.200 square feet) with a panoramic view over Zittau and the nearby mountains. RIGHT NOW, THE BUILDING IS NOT A HOTEL, BUT COULD BECOME ONE. Very agreeable, green, upscale residential neighborhood.
Over 60 rooms and halls. Two staircases. Ample corridors. High ceilings. Yard-gate entrance for cars. 4 garages on the main court-yard. Impressive entrance hall. Many possibilities. Perfect building for a hotel or bed and breakfast. Or a student hostel. Or to just live grandly by yourself. Upper apartments could easily be divided and rented as holiday apartments. Needs renovation but is in solid condition. Free and clear title. Low annual property tax of 880,- €. Owner financing available. Last appraisal valued the property at 470.000,- €. Fantastic opportunity to buy a well preserved piece of history well below its intrinsic value!

Zittau (30.000 inhabitants) lies in the south east of Germany, in the Free State of Saxony, close to the border triangle between Germany, Poland, and the Czech Republic.
After years of careful reconstruction, the inner city of Zittau once again shows its original beauty with many historic buildings out of different periods of European architecture. Prague and Dresden, can be reached by car or train within an hour. To see more pictures of Zittau and the surrounding countryside, please follow the video link below.

Over the years we have visited many places all over the world, and without any doubt the charming town of Zittau is one of the most attractive, agreeable, safest, clean, carefree, quiet, romantic, and cheapest places we have come across. Zittau is an unspoiled gem ready to get discovered.

No Commission.

Date July/2011.... Price change.... 295.000,- € (old price).... 275.000,- € (new price)

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