Garage for sale without real estateOberstr. 101 Köln Westhoven Nordrhein-Westfalen 51149

Available for sale is a package of 8 rented garage parking spaces in the Wohnpark Westhoven in Cologne-Westhoven. It consists of 5 spaces in the North Garage with the Oberstraße entrance and 3 spaces in the South Garage with the Ziegeleiweg entrance.

The parking spaces are fully rented and currently yield a total gross monthly rent of €478, corresponding to €5,736 per year. At the purchase price of €76,480, this results in an attractive initial gross rental yield of approximately 7.5%.

This offering is particularly suitable for investors seeking an already operating and uncomplicated source of income with manageable administrative effort. The existing rental agreements are set up on a gross rent basis, meaning that no additional service charge statements need to be prepared for the tenants. In some cases, the rental agreements have been in place for over 20 years.

The current monthly service charge (Hausgeld) amounts to approximately €25 per parking space, which already includes a reserve contribution of around €8 per space. According to previous statements, the ongoing operating costs were only about €14 to €15 per space per month.

Extensive renovation measures have already been carried out in the garage facilities. The last construction phase is scheduled for June/July; the seller has already paid the costs allocated for this phase to the homeowners' association (WEG). Additionally, from the seller’s point of view, there is further potential to increase rental income, especially in the context of future re-rentals and, depending on the respective contractual design, even beyond that.

The parking spaces are not located in a traditional deep underground garage but in a spacious garage facility on ground level. As a result, the facility appears more open and less confined than many conventional underground garages.

The sale is conducted privately without commission. I will gladly provide further documents regarding rental income, service charges, the operating plan, and the WEG upon serious interest.

The parking spaces are situated in the Wohnpark Westhoven in the Cologne district of Westhoven, immediately along Oberstraße, Nikolausstraße, and Ziegeleiweg. The residential complex was built between 1973 and 1975 and comprises 25 buildings with 6 to 16 floors, 573 apartments, 6 commercial units, as well as approximately 550 car parking spaces.

The location is attractive for parking space rentals: the residential complex borders the Westhovener Aue to the west and combines a quiet, green environment with good accessibility. The KVB stop Westhoven Berliner Str. is served by line 7; Cologne Street as well as the connections towards the city center and surrounding areas are also readily accessible.

Investment Highlights: A package that is already fully and predominantly long-term rented, providing immediate ongoing income. Compared with traditional residential rentals, the administrative and maintenance effort is generally lower since the parking space itself does not include typical residential features such as a bathroom, kitchen, or heating system. With separately rented parking spaces, the legal aspects of the rental also tend to be simpler than those for residential properties. Extensive renovation and repair measures have already been carried out in the underground garage.

This is a package of 8 rented underground parking spaces within a large residential complex. The parking spaces are sold as an investment package. Due to the existing rentals, immediate ongoing income is generated upon transfer. I will gladly provide further information and documents upon serious interest.

This is a private sale without broker commission. A notarial transaction is, of course, available. Please understand that further property documents will only be provided upon serious interest due to confidentiality reasons.