House for sale • 392 m² without real estate, North Rhine-Westphalia

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For sale is a well-maintained and continuously modernized multi-family house in a central location at 58809 Neuenrade with a total living area of approximately 392 m².

The property consists of a main building with three residential units as well as an adjacent extension with an additional residential unit. All units are currently rented, already providing stable ongoing rental income.

Due to the combination of solid building construction, ongoing maintenance, extensive modernizations, and further potential for rent increases, the property is excellently suited as a long-term investment.

Distribution & Current Rental Income

Main Building:

Ground floor:

- Living area: approx. 81 m²

- Cold rent: €473/month

First floor:

- Living area: approx. 79 m²

- Rented to a corporate client for accommodating technicians

- Cold rent: €1,650/month

Top floor:

- Living area: approx. 77 m²

- Cold rent: €543/month

Extension:

- Living area: approx. 155 m²

- Cold rent: €980/month

The current total cold rent amounts to:

€3,646/month

€43,752/year

A particular feature is the rental of the first floor: This unit is leased to a company that houses technicians. This special leasing model ensures above-average rental income and has already been successfully established.

If interested, the new owner can be supported in continuing this leasing model. With numerous contacts to corporate clients and similar established rental models, we can gladly assist if needed.

Additionally, there is further potential for rent increases since the current rents have not yet reached the upper end of the market range.

The property is located in the central area of 58809 Neuenrade.

The building is situated right on one of the town’s main traffic routes and therefore benefits from very good accessibility as well as short distances to all daily needs.

Shopping opportunities, supermarkets, bakeries, doctors, pharmacies, schools, kindergartens, and other local amenities are within walking distance. Directly across the street is a bus stop, ensuring good connections to public transportation.

The central location makes the property attractive for both traditional tenants as well as for commuters and technicians. Surrounding cities such as Iserlohn, Balve, Werdohl, Plettenberg, and Lüdenscheid are easily accessible. But the city of Neuenrade itself also offers many job opportunities with its strong industrial area.

Due to the combination of a central location, good infrastructure, and stable rental demand, the site offers attractive conditions for a long-term rentable investment.

Main Building – Built around 1902

The main building has been continuously maintained and modernized. Key improvements include, among other things:

- Roof replaced ca. 2015

- Double-glazed plastic windows in place

- Individual windows have been replaced as needed over the past years

- Modernized entrance hall including lighting

- New gas central heating system with modern condensing technology from 2025

- Renewal of the drip edge sheets above the plinth area

- Sealing and refurbishment of the plinth area

- Renovated basement area with new lighting

- New outdoor lighting in the entrance area

- New front door

Extension – Built around 1970

The extension, particularly on the upper floor, has been comprehensively gutted and modernized both technically and aesthetically. The measures carried out include, among other things:

- New flat roof with a new beam construction

- Above-average roof insulation exceeding current requirements

- PU (polyurethane) on-roof insulation

- Intermediate rafter insulation made of sustainable wood wool

- Completely modernized bathroom with a large shower and low threshold

- Renewal of essential pipelines and electrical systems

- New electrical sub-distribution

- Suspended ceilings with integrated spotlights

- New windows

- Walls and ceilings finished in Q3 plaster

- New flooring

The measures carried out ensure contemporary living comfort, a solid technical basis, and reduce future maintenance needs.

Particularities for Investors

- Fully rented multi-family house with 4 residential units

- Current monthly cold rent: €3,646

- Current annual net cold rent: €43,752

- Attractive income situation through an established technicians' rental model

- Support available for continuing the special rental model

- Further potential for rent increases in place

- 5 parking spaces available, of which 2 are currently rented

- Additional income potential from further parking space rentals

- Extensive modernizations of expensive trades already carried out

- Well-maintained building structure

- A remaining useful life appraisal from 2024 is available, confirming a remaining useful life of 12 years – an interesting basis also for tax depreciation opportunities