House for sale • 180 m² without real estateWarendorpstr. 51 Lübeck Holstentor Nord Schleswig-Holstein 23554

The multi-family house built around 1905 at Warendorpstraße 51 in Lübeck-St. Lorenz Nord offers an interesting opportunity for yield-oriented real estate investors. The property is fully tenanted, with no vacancies at present. The rental agreements are in place with long-standing, quiet, and reliable tenants.

The building features approximately 230 m² of living space on a plot of about 180 m². There are 4 apartments as well as an additional 1-room area with a shower room in the attic.

The current annual net cold rent amounts to €27,302.

The asking price is €499,900. In the event of several serious purchase inquiries, the seller reserves the right to decide based on the overall best economic offer.

A particular highlight is the existing development potential. The attic can be developed further; connections for heating, electricity, and water are already available. By creating additional living space, further revenue potential can be tapped and the property value increased.

At present, there are no balconies. In the course of a future façade renovation with thermal insulation, a balcony retrofit could be considered. This would improve the residential value and could create additional potential for rent increases. Under the legal conditions, energy renovation costs can partially be passed on to the tenants.

The basement is typical of its construction period and shows the usual moisture signs found in buildings of this age. It is functionally usable and features basement areas, technical rooms, and a laundry room.

A small garden area is part of the property. The street-side terrace is used by the ground-floor tenant for a fee.

The building is not under heritage protection. According to information from the building encumbrance register, there are no entries in the register.

The property is located in an inner-city area of Lübeck-St. Lorenz Nord. Warendorpstraße offers short distances to all daily necessities and is therefore very suitable for sustainable tenancy.

Shopping facilities such as REWE, a gas station, schools, public transport, the train station as well as Lübeck’s city centre with the historic old town are quickly accessible. The motorway connection is also well linked, making the location attractive for both commuters and tenants with urban living demands.

Additionally, the location is expected to benefit from the planned upgrading of the area due to the new building quarter at Schwartauer Allee on the former Nordfrost site. The planned “Wohnquartier Schwartauer Allee” could further strengthen the surroundings and increase the long-term attractiveness of the location.

• 4 apartments with 3 rooms, kitchen with fitted kitchen, shower room, and separate WC

• In the attic, 1 room with a shower room

• Central gas condensing boiler heating system built in 2018 with hot water generation

• Cable connection in all apartments

• Full basement with laundry room, technical and tenant storage areas

• Small garden

• Street-side terrace is used for a fee by the ground floor tenant

• Attic with further development potential

• Connections for heating, electricity, and water available in the attic

• Not under heritage protection

• Top floor ceiling insulated

The property is particularly suitable for investors looking for a tenanted existing property with additional potential for value increase. The possible attic conversion, energy modernization, and a later balcony retrofit offer various approaches to optimize residential value, rental income, and property value.

Tax planning options may also be of interest to buyers. In the case of older buildings, a shorter actual remaining useful life may be demonstrated under certain conditions through a remaining useful life assessment, potentially resulting in higher depreciation allowances.

The handover will take place by arrangement. The property is currently fully occupied. Viewings are possible after prior scheduling.

Some of the interior photos have been digitally processed or depersonalized in order to protect the privacy of the tenants and safeguard their personal rights. Personal items, pictures, or other identifiable features have been removed or anonymized. The photos serve to illustrate the layout, condition, and equipment; the actual furnishings and usage may differ.

All information is based on the owner’s details and the documents available. Errors, changes, and pre-sales remain subject to change. In the event of multiple interested buyers, the seller will decide based on the overall best economic offer. This offer does not include legal, tax, or construction technical advice.