House for sale • 182 m² without real estateBrückstrasse 29 Emden Emden Niedersachsen 26725

For sale is a residential and commercial building in an attractive yet quiet downtown location of Emden. The building was constructed around 1964 and offers a total of approximately 182 m² of living and usable space.

The property is divided into three residential units as well as one commercial unit of about 38 m². Two of the apartments feature a balcony. The offer is complemented by two garages and a full basement.

Each apartment comprises two rooms, a separate kitchen, and a bathroom. Over the years, the units have been partially renovated continuously and are generally in a simple, solid condition.

The approximately 38 m² commercial unit on the ground floor consists of a sales/office area as well as a rear section with a kitchen and a bathroom including a shower. This layout allows for various uses, for example as an office, service business, or a small craft enterprise.

The building is heated by a gas condensing boiler from 2019. The top floor ceiling is insulated. The house is fully basemented.

The current annual net cold rent amounts to around €24,000. With the upcoming re-letting, there is potential to adjust the rental income. According to current estimates, an annual net cold rent of approximately €27,000 is realistic.

At a purchase price of €325,000, this corresponds to a current gross rental yield of about 7.4% and, based on the planned new rentals, around 8.3%.

The sale is conducted directly by the owner and without any additional buyer’s commission.

Features

• Approximately 182 m² of living and usable space

• 3 residential units

• 1 commercial unit, approx. 38 m²

• Each apartment has 2 rooms with a separate kitchen and bathroom

• 2 apartments with a balcony

• Attic apartment

• 2 garages

• Fully basemented

• Gas condensing boiler, built in 2019

• Top floor ceiling insulated

• White bathrooms

• Partially renovated apartments

• Constructed around 1964

• Energy demand under 170 kWh/(m²·a) according to the energy performance certificate based on demand

• Central downtown location

• Commission-free sale

The property is located in the central downtown area of Emden. The pedestrian zone of Emden, as well as numerous shopping opportunities, gastronomy, and everyday necessities, are in the immediate vicinity and can be easily reached on foot.

Despite the central location, the property is situated in a comparatively quiet residential area, thus offering an interesting combination of downtown location and residential quality.

The apartments are currently in the process of being re-let. This provides a buyer with the opportunity to take over the property with a modern rental structure.

The commercial unit can be flexibly re-let. Due to its layout with a sales/office area, kitchen, and a bathroom with a shower, it is particularly suitable for service providers, offices, insurance companies, small craft businesses, or other independent activities.

Current annual net cold rent: approx. €24,000

Target annual net cold rent: approx. €27,000

Purchase price: €325,000

Current yield: approx. 7.4%

Target yield: approx. 8.3%

Buyer’s commission: €0

Due to the compact plot of only about 115 m², a comparatively high proportion of the purchase price is attributable to the building, thereby offering interesting depreciation (AfA) potential. If a shortened actual remaining useful life can be demonstrated – for example, 20 years – a correspondingly higher building depreciation would be possible. The individual tax recognition should be verified by the buyer.

From an energy perspective, the property also offers interesting conditions: As a terraced house, it adjoins heated buildings on both sides and thus has two protected building sides. In addition, the top floor ceiling has been insulated and a gas condensing boiler was installed in 2019.

Overall, this is a low-maintenance investment property with an attractive yield, a manageable plot size, and interesting depreciation potential.