House for sale • 226 m² without real estatePlöner Str. 33, , Schleswig-Holstein

For sale is a multi-family house with four units and a total living/usable area of 316 m², dating from 1870, located in the heart of the historic old town of Eutin. The two-story, solidly constructed building impresses with its late-classicist facade design and partially preserved stucco ceilings, and it possesses a character that shapes the cityscape. The property also includes four carports, three parking spaces, as well as a practical shed for bicycles/tools.

This property is presented as a secure investment: All four units are rented out under flexible commercial lease contracts. A large part of the space is used by the city of Eutin as a tenant. For you as an investor, this means maximum creditworthiness, on-time rental payments, and an almost zero risk of rental defaults. At the same time, the commercial leases ensure a high degree of contractual flexibility for future developments.

The current net cold rent amounts to €26,700 per annum. Since the current rent is well below the Eutin market average, there is enormous potential for an increase of about 40% upon re-letting. Due to the limited housing supply in the town, a consistently high level of tenancy can be expected. Note: For the commercial unit, there is an agreement that the rent will remain unchanged until December 31, 2027.

The building has been continuously maintained. In certain areas, there is potential for modernization – for example, in some of the apartment windows and doors as well as the floor coverings, the walls in the stairwell, the two exterior stairs (renewal of plaster and tiles), and the bicycle shed. The gas central heating is fully functional, although technically aging (built in 2005). Targeted measures in these areas will enhance the property’s substance, energy efficiency, and yield – and as a listed building in the formal redevelopment area, it is also tax-advantaged.

The property impresses with its top location in the center of Eutin, the picturesque district town in the heart of the Holstein Switzerland region. Eutin – also known as "City of Roses" or "Weimar of the North" – combines historic culture and urban infrastructure with invaluable leisure benefits. The historic market square, the castle, and the Eutin Festival attract many visitors to the region.

All daily amenities, first-class restaurants, an indoor swimming pool, government offices, schools, doctors, and hospitals are conveniently within walking distance. Eutin Castle, the castle garden, and the Great and Little Eutin Lakes are in the immediate vicinity.

Perfect Connections:

• (Bus) Station Eutin: Only about a 200 m walk (ideal connection to Lübeck/Kiel)

• Baltic Sea Coast (Scharbeutz, Grömitz): Reachable in only about 20–30 minutes

• Hanseatic City Lübeck: Approximately 45 minutes (by car/highway)

• Metropolitan Hamburg: Approximately 90 minutes (by car/ICE connection via Lübeck)

The property offers a versatile layout:

- Basement Level (bright basement apartment – approx. 66 m²): Features a welcoming living room and a bedroom, with laminate flooring, a tiled bathroom with shower, bathtub, washing machine connection, and window, as well as an open, tiled dining/kitchen area with direct access to a spacious terrace.

- Ground Floor (commercial unit with the option for 2 units – approx. 90 m²): Formerly two residential units, currently used as one large commercial unit (the front area was completely renovated in 2022). By removing only one wall, it is relatively simple to restore the original layout. This would create: One residential unit (approx. 46 m², 2 rooms with laminate flooring, tiled kitchen, bathroom, guest toilet) and a separately usable front commercial space (approx. 44 m² with high-quality vinyl flooring, toilet, and existing kitchen connections). The property would thus comprise 5 units.

- First Floor (spacious apartment – approx. 100 m²): A generous foyer provides access to the living area. A bright living room, two adjoining living/sleeping rooms, a kitchen, and a practical guest shower room offer plenty of space and old-building charm with stucco ceilings. The floors consist of laminate or carpet and tiles in the bathroom.

- Attic (charming attic apartment – approx. 60 m²): Divided into a living room, a bedroom, a separate guest toilet, and a kitchen from which two smaller bedrooms branch off (laminate flooring). The highlight is the completely renovated and tiled daylight bathroom with shower, bathtub, and WC.

Included in the purchase price are four fitted kitchens complete with electrical appliances.

The house is fully basemented and offers, in addition to the technical room, a storage room in the basement as well as four storage rooms on the intermediate floors, three of which are equipped with washing machine connections.

Overview of Modernizations in the Last 5 Years:

The property has been continuously and professionally maintained. The most significant measures include:

- Extensive, professional basement wall renovation against rising damp by the renowned specialist company Isotec

- Renewal of the expansion vessel of the heating system

- Modernization of the bathroom in the attic apartment

- Complete renovation of the front part of the commercial unit on the ground floor

- Complete renovation of the basement apartment (energy check available)

- Partial renewal of the electrical and sanitary installations

- Installation of 2 new roof windows

- Annual heating maintenance

Development Potential & Additional Density:

• Construction reserve according to § 34 BauGB: The property is recorded in the city of Eutin’s building gaps register. For project developers and property developers, this offers the rare opportunity to create new residential space through additional densification in the historic city center (a final building pre-application must be submitted by the buyer).

• Layout Flexibility: The commercial unit on the ground floor benefits from its visually appealing corner location and can be easily divided or converted into additional residential space if needed.

• Ideal as a solid investment, a multi-generation house, or a combination of "living and working"

• Rental Increase Potential: The current rent of €7.04/m² is well below the average market rent in Eutin of €10.02/m² (source: Immoscout24)

The property is fully rented. Out of consideration for the tenants, I am initially offering a viewing of the outdoor area (as well as the common areas) and complete documentation – the latter provided after receiving a brief self-disclosure and proof of financing. Interior viewings are only available by appointment, bundled and in an advanced stage of the purchase process with qualified prospective buyers.

This is a private sale. Please, no inquiries from brokers.