House for sale • 290 m² without real estate, North Rhine-Westphalia

In a central location in Detmold, this fully rented multi-family house presents itself as an interesting investment opportunity with sustainable development potential. Emilienstraße combines an urban-proximate location with excellent access to public transportation, as well as short distances to shopping facilities, schools, doctors, and Detmold train station. The historic old town, a variety of dining options, and cultural institutions are conveniently within walking distance, all of which contribute to a consistently attractive residential setting.

Built in 1955, the multi-family house comprises four rented residential units with a total living area of approximately 290 m². The apartments include three nearly identical 3-room units of about 77 m² each on the ground floor and the upper floors, as well as a 3-room apartment of approximately 59 m² in the attic. In addition, there is a basement usable area of about 75 m². The property itself covers an area of approximately 146 m². Please note that there are no parking spaces or garages available on the premises.

All apartments are rented and are each heated by their own gas furnace. The current total monthly net cold rent amounts to €1,150.82, which corresponds to an annual net cold rent of €13,809.84.

The building is in an overall solid condition corresponding to its construction period. In recent years, maintenance measures have predominantly been carried out on an as-needed basis. From today's perspective, there is an increased need for modernization and upkeep. In particular, energy-related modernization measures have not yet been implemented. This situation, however, offers investors the opportunity to sustainably enhance both the building standard and its long-term profitability through targeted modernizations.

There is also significant potential for revenue growth. The current rents are below the levels that can sustainably be achieved according to the rent index. For the apartments from the ground floor up to the second floor, a market-adjusted net cold rent of approximately €5.85 per m² is considered sustainably attainable, while for the attic apartment it is around €6.00 per m². Within the framework of legal possibilities, this creates an opportunity for future rent adjustments.

The combination of a desirable, centrally located residential area, full occupancy, and existing value and rent increase potentials makes this multi-family house an attractive investment opportunity for capital investors who view the current need for modernization as a chance for the sustainable further development of the property.

City of Detmold

Marktplatz 5

D-32756 Detmold

Phone: 05231 977 0

Fax: 05231 977 299