Flat for sale 3+1 • 62 m² without real estateKöln Mülheim Nordrhein-Westfalen 51065

**Investment Property in Cologne-Mülheim: Extensively Refurbished, Long-Term Tenancy and No Buyer’s Commission**

When buying a rented apartment, you are purchasing more than just square metres.

The key factors are the location, floor, technical condition, ongoing rental income and, above all, the question of what major investments the buyer may face in the coming years.

This well-designed three-room apartment of approximately 62 m² offers a particularly attractive combination in precisely these respects.

**FIRST FLOOR – A GENUINE EVERYDAY ADVANTAGE**

The apartment is located on the first floor of a building without a lift.

This makes it easy to access, even when coming and going several times a day, while still providing a pleasantly elevated position.

Especially in buildings without a lift, this floor is significantly more attractive to many residents and tenants than higher floors.

**EXTENSIVELY REFURBISHED – NOT MERELY REDECORATED**

The work carried out on this apartment was not limited to painting the walls and installing new flooring.

As part of an extensive refurbishment, numerous technical and cost-intensive measures were also completed. These included the complete replacement of the electrical wiring, the modernisation of the heating pipes and radiators, and the full refurbishment of the bathroom.

The layout was also improved by relocating the gas boiler from the kitchen to the hallway—a complex modification that made the space more practical.

A detailed list of the work carried out can be found under “Features and Specifications.”

For the buyer, this means that many measures which might still be required later in an apartment that had only been superficially renovated have already been completed here.

**PROVEN RENTAL INCOME RATHER THAN THEORETICAL PROJECTIONS**

The apartment has been continuously let for many years and has been reliably occupied by a family since 2020.

The current net rent, excluding utilities, is:

€744 per month

€12.00 per m²

€8,928 per year

Particularly noteworthy: the rent has not been increased since 2020. This means that, in addition to the existing income, there is potential for further growth within the limits permitted by law.

This is not a theoretical target rent, but an established tenancy that has generated actual income for years.

**MORE THAN JUST THE APARTMENT**

A balcony overlooking the communal garden, an exceptionally large basement storage unit of approximately 20 m² and shared laundry facilities complement the available space.

The management and condition of the common property are also important factors when purchasing an investment property. The property has a well-funded maintenance reserve and is well managed. Based on current information, there is no backlog of maintenance work.

**ALSO ATTRACTIVE FOR FUTURE OWNER-OCCUPATION**

The well-designed three-room layout, first-floor location and central yet quiet setting also make the apartment appealing to buyers who may wish to occupy it themselves in the future.

The existing tenancy must, of course, be taken into consideration.

**PRIVATE SALE WITH NO BUYER’S COMMISSION**

The property is being sold directly by the owner. No estate agent’s commission is payable by the buyer.

The apartment is located in Cologne-Mülheim, on a quiet side street off Frankfurter Straße, combining short distances to local amenities with a pleasant residential environment.

Shops, doctors, schools, nurseries, bakeries, restaurants and other everyday amenities are all located nearby.

Public transport connections are excellent. Bus, light rail and Deutsche Bahn services can be reached on foot in approximately two to three minutes.

There is also convenient access to Cologne’s motorway network and the airport.

**CENTRAL LIVING WHILE STILL ENJOYING PEACE AND QUIET**

Despite the excellent infrastructure, the immediate residential surroundings are quiet.

The balcony faces the communal garden and the quieter side of the building.

Cologne-Mülheim therefore combines urban infrastructure with a residential environment that is attractive to both owner-occupiers and tenants.

This combination of excellent accessibility, short distances and a quiet residential location is also an important factor in the apartment’s long-term rental appeal.

**EXTENSIVELY REFURBISHED – NOT MERELY COSMETICALLY RENOVATED**

Numerous technical and cosmetic improvements were carried out in this apartment, going far beyond an ordinary renovation.

These include:

- Complete replacement of the electrical wiring

- New central distribution board and fuse box

- Additional electrical sockets and TV connections

- Modernisation of the heating pipes

- Installation of new Buderus radiators

- Replacement of all floor coverings

- Extensive repair and replastering of the walls

- Complete modernisation and retiling of the bathroom

- Careful restoration of the existing internal doors

The work was carried out as part of an extensive refurbishment several years ago.

This was therefore not merely a case of improving the visible surfaces. Numerous aspects of the apartment’s technical systems have also already been addressed.

In existing properties, such work is often associated with considerable costs, the coordination of tradespeople and significant time expenditure.

For the buyer, this means that many cost-intensive measures which might still be required in an apartment that had only been redecorated have already been completed here.

**MORE KITCHEN SPACE THROUGH EXTENSIVE LAYOUT OPTIMISATION**

One special detail that is barely visible in the photographs:

The gas boiler was originally located in the already compact kitchen.

As part of the refurbishment, considerable effort was made to relocate it to the hallway.

As a result, significantly more usable space is now available in the kitchen.

A dedicated washing machine connection was also installed beneath the boiler.

In an apartment of this size, an improvement of this kind makes a noticeable difference in everyday life.

**BALCONY OVERLOOKING GREENERY**

The balcony faces the quieter side of the building and the communal garden.

It therefore provides a pleasant place to relax despite the central location.

**EXCEPTIONALLY LARGE BASEMENT STORAGE UNIT**

The apartment includes a basement storage unit of approximately 20 m².

This additional storage space is a particular advantage for a three-room apartment of this size.

**COMMUNAL LAUNDRY ROOM**

Communal washing machines and tumble dryers are available to residents in the building and can be used for a small fee.

This is particularly convenient, as residents do not need to purchase their own appliances or keep them inside the apartment if they do not wish to do so.

Residents also have access to a communal garden.

**FIRST FLOOR, NO LIFT**

The apartment is located on the first floor, making it significantly easier to access in everyday life than apartments on higher floors of a building without a lift.

**WELL-MAINTAINED COMMON PROPERTY**

Good property management, a well-funded maintenance reserve and, based on current information, no backlog of maintenance work further add to the apartment’s advantages.

Overall, the property offers a combination of an extensively modernised apartment, a practical layout and an established, functioning tenancy.

**PROVEN TENANCY WITH GOOD FUTURE PROSPECTS**

The apartment has been continuously let for many years. The current tenants have occupied the apartment since 2020.

The property also offers excellent prospects for future reletting. Its central location in Cologne-Mülheim, outstanding transport connections and sought-after size of approximately 62 m², with three well-designed rooms, appeal to a broad range of tenants.

Thanks to its practical layout, the apartment could also potentially be let as a shared apartment.

In a major city such as Cologne, well-connected and affordable apartments of this size are particularly attractive. The property therefore offers not only existing rental income but also a solid basis for long-term rental demand.

**RENTAL INCOME AND PURCHASE TERMS**

The monthly net rent, excluding utilities, is €744, equivalent to €12.00 per m² or an annual net rent of €8,928.

The net rent has not been increased since the current tenants moved in. There is therefore potential for further growth within the limits permitted by law.

The monthly service charge is €278.

The property is being sold directly by the owner, with no buyer’s commission.

**VIEWINGS AND CONTACT**

The available photographs, floor plan and detailed information already provide a very good initial impression of the property.

I would be happy to provide serious prospective buyers with further information in advance about the apartment, the property as a whole and the existing tenancy.

When making an enquiry, please briefly state:

- Are you looking to purchase the apartment as an investment, or do you intend to occupy it yourself in the future?

- What is the current status of your financing?

If the key conditions are suitable for both parties, a viewing can then be arranged easily.

As the apartment is currently occupied by tenants, we would like to organise viewings selectively and with due consideration for the residents.