House for sale • 869 m² without real estate, North Rhine-Westphalia

For sale is an exceptional property in the center of Lüdenscheid that impresses with its central location, historic architecture, and enormous development potential. This is an impressive building that, thanks to a variety of usage possibilities, represents a profitable capital investment. The property is ideal for investors who wish to combine a historic asset with the possibility of unlocking additional yield opportunities through modernization measures.

Lüdenscheid, known as the “mountain town,” is the economic and cultural center of the Märkischer Kreis in North Rhine-Westphalia. The town combines a long history with forward-looking development. The city center is characterized by a diverse mix of historic buildings, modern shops, and cultural facilities. The proximity to the Sauerland region and the excellent connection to the Ruhr area make Lüdenscheid an attractive location for both residents and investors.

The property itself is located in the heart of the city, only 50 meters from the train station and in the immediate vicinity of the town hall square. This central location not only offers excellent access to public transportation but also provides pedestrian access to shopping opportunities, restaurants, cafés, and cultural institutions. The central location guarantees high demand for residential space and offers diverse possibilities for renting to different target groups, from students to business travelers.

The historic building comprises 22 residential units, which are divided into 18 apartments ranging in size from 18 to 35 m² and 4 larger apartments ranging from 70 to 110 m². The listed façade gives the property a special charm, while the interior offers potential for extensive modernization measures to further enhance its attractiveness and rental yield.

The property is currently mostly rented, but with targeted modernizations and conversion measures, its full economic potential can be fully exploited. In this way, the annual net cold rental income can be increased from the current approximately €77,000 per annum to up to €100,000 per annum.

Division of the residential units

Ground Floor:

• Right Side: 4 rented apartments (each 18–35 m²), equipped with a bathroom (shower), hallway, and living/sleeping area with a kitchenette. Apartment No. 4 has recently been completely renovated, including new triple-glazed plastic windows and modern fittings.

• Left Side: 3 residential units, each with a bathroom, small kitchen, and hallway. These units offer further potential for enhancement through renovations.

• Outdoor Area: An area formerly used as a bakery has been converted into a spacious apartment that features a large living/sleeping area, a hallway, and a modern bathroom (shower and toilet).

1st Floor:

• Right Side: A spacious 110 m² apartment that includes a balcony, a guest WC with a shower, an additional bathroom with a bathtub, a bedroom with an en suite bathroom, a large kitchen, a hallway, and two additional rooms. This unit is particularly attractive for family rentals or as a representative apartment.

• Center: A spacious apartment with a hallway, its own bathroom (shower), a living/sleeping area, and a small kitchen.

• Left Side: 4 rented apartments that correspond in layout to the units on the ground floor.

2nd Floor: Identical layout to the 1st floor. Due to the high ceilings and flexible floor plans, the apartments offer further possibilities for individual design.

3rd Floor:

• Left Side: Approximately 70 m² apartment with a kitchen, living/sleeping area, separate bedroom, and bathroom with a bathtub. This apartment is ideally suited for couples or small families.

• Right Side: A spacious residential unit with four rooms, a kitchen, a hallway, and two bathrooms (one with a bathtub, the other with a shower). This space could also be used as a shared apartment.

Basement and Additional Usable Areas

• Boiler Room: The property is equipped with a modern gas condensing boiler from 2021, which ensures efficient energy supply.

• Communal Laundry Room: All tenants have access to a central laundry facility.

• Cellars: Four storage compartments for the larger apartments, as well as a large room of approximately 130 m², which was formerly used as a bakery. This room can be converted into an additional residential unit or adapted for commercial use.

This property offers numerous development opportunities:

• Long-Term Rental: The current rental situation demonstrates great interest in the location. Through renovation measures, higher rents can be achieved and marketing made even more attractive.

• Short-Term Rental (Airbnb): The proximity to tourist attractions and business districts makes the property particularly interesting for tourists and business travelers.

• Student Housing: The proximity to universities and training centers makes the building ideal for student rentals.

• Assisted Living or Care Facility: The large number of small units and the central location would be ideal for assisted living. Only a few conversion measures would be necessary.

• Commercial Use: The basement and flexible floor plans allow for the establishment of office, practice, or storage spaces.

• Worker’s Accommodation: For craft businesses and companies that need short-term accommodation for their employees, this property offers an attractive option.

Energy Efficiency and Heritage Protection

• Energy Certificate: The primary energy requirement is 165.6 kWh/m², which meets the requirements for older buildings. Modernizations can further improve energy efficiency.

• Heritage Protection: The façade is heritage-listed, which provides special tax advantages for modernization measures, particularly in terms of increased depreciation possibilities.

Financial Highlights

• Current Annual Net Cold Rental Income: Approximately €77,000 p.a.

• Rental Increase Potential: Targeted modernization can increase this by up to €100,000 p.a.

• Additional Income: The conversion of the large basement or the rental of parking spaces in the inner courtyard could generate additional rental income.

• Funding Opportunities: The property qualifies for various funding programs, including KfW loans for energy-efficient renovations, which facilitate the financing of modernization measures.

Tax Advantages and Funding Opportunities

The renovation of the listed property not only provides an increase in value but also tax advantages through increased depreciation possibilities. KfW funding programs and other state supports offer additional incentives for investors planning sustainable renovation measures.

Summary

This unique property in the heart of Lüdenscheid represents a rare opportunity to invest in a historic building with versatile usage possibilities. The central location, the multitude of residential units, and the potential investment measures offer an attractive combination for capital investors. With the chance for a significant rent increase and additional income sources through conversion, this property provides a secure and profitable capital investment for the future.