Commercial apartment building in Kassel, Germany, 882 sq.m

Apartment house for sale at 34466 Wolfhagen (30 minutes from Kassel).

The land area is 532 m2;

The total area of the house is about 882 m2

Renovated and leased - 411.53 m2;

The building consists of 3 wings and 3 floors:

- a wing in the middle - a residential apartment (2 levels, 3 rooms) and an attic room ready for finishing into living quarters;

- right wing - 3 residential apartments (2-room, 5-room in 2 levels, 7-room in 3 levels) and 1 apartment requiring complete renovation (it is possible to make a layout for a two-room or 2 studios).

- the left wing is now in a non-residential condition (renovation, replacement of windows, etc. is required), now both a warehouse and garages are used;

There is a large parking lot in front of the house.

Repairs have been carried out:

- New heating and water supply system (pipes, boiler, chimney, etc.);

- Partially updated electrics (completely new main panel, meters, electrical appliances) installed in 2023;

- The roof on 2 wings of the three buildings has recently been blocked and insulated;

- All radiators have been completely replaced;

- Plumbing elements have been replaced

- Cosmetic repairs have been made in all apartments, kitchens have been installed.

4 apartments have been renovated and rented out

Income from 4 apartments is 3750 euros / month. Kalt, (4725 euros / month Warm)

The actual income per year is 45,000 euros (9% per annum)

Potential for space expansion / further renovation and delivery of apartments:

- the attic floor of the middle wing has a preliminary permit for reconstruction into a living space (about 87.5 m2);

- the apartment on the ground floor of the right wing is, according to the documents, a living space, requires repair for ~ 15-20 thousand euros (about 73.54 m2);

- the entire left wing (free layout, up to 300 m2) requires a permit for reconstruction;

There is also a calculation of the areas in 2 residential wings, and apartment layouts. (on request)

It is possible to receive subsidies from the city up to 60,000 euros for renovation work on the building.

The commission for the buyer is +4.76% of the cost of the object.