Property Description

The historic building comprises 22 residential units, divided into 18 apartments ranging in size from approximately 18 to 35 m² and 4 larger flats between 70 and 110 m². The listed facade gives the property a special charm, while the interior offers potential for extensive modernization measures to further increase its attractiveness and rental yield.

The property is currently predominantly rented, although targeted modernization and conversion measures can unlock its full economic potential. This means that the annual net cold rent, currently about €80,000, could be raised to up to €100,000 p.a.

Distribution of the Residential Units

Ground Floor:

• Right Side: 4 rented apartments (each 18–35 m²) equipped with a bathroom (shower), a hall, and a living/sleeping area with a kitchenette. Apartment No. 4 has recently been completely renovated, including new triple-glazed plastic windows and modern fixtures.

• Left Side: 3 residential units, each with a bathroom, a small kitchen, and a hall. These units offer additional potential for upgrading through renovations.

• Outdoor Area: A space formerly used as a bakery has been converted into a spacious apartment with a generous living/sleeping area, a hall, and a modern bathroom (shower and WC).

1st Floor:

• Right Side: A spacious 110 m² apartment featuring a balcony, a guest WC with shower, another bathroom with a bathtub, a bedroom with an en-suite bathroom, a large kitchen, a hall, and two additional rooms. This unit is especially attractive for family rentals or as a representative apartment.

• Center: A spacious apartment with a hall, its own bathroom (shower), a living/sleeping area, and a small kitchen.

• Left Side: 4 rented apartments that mirror the layout of the units on the ground floor.

2nd Floor:

Identical in layout to the 1st floor. The apartments and flats offer further possibilities for individual design due to the high ceilings and flexible floor plans.

3rd Floor:

• Left Side: An approximately 70 m² apartment with a kitchen, a living/sleeping area, a separate bedroom, and a bathroom with a bathtub. This apartment is ideal for couples or small families.

• Right Side: A spacious residential unit with four rooms, a kitchen, a hall, and two bathrooms (one with a bathtub, the other with a shower). This unit could also be used as a shared living arrangement.

Basement and Additional Utility Areas:

• Heating Room: The property features a modern gas condensing boiler from 2021, ensuring efficient energy supply.

• Communal Laundry: A central laundry room is available for all tenants.

• Cellar Areas: There are four storage compartments for the larger apartments as well as a large room of about 130 m², formerly used as a bakery. This space can be converted into an additional living unit or repurposed for commercial use.

Private Sale Without Commission – No Real Estate Agent Inquiries Welcome

For sale is an extraordinary property in the center of Lüdenscheid that impresses with its central location, historic architecture, and enormous development potential. This impressive building, with its wide range of usage options, represents a profitable investment opportunity. It is ideal for investors who wish to combine a historic structure with the possibility of generating additional returns through modernization measures.

Location Description: Lüdenscheid – A City with Tradition and a Future

Lüdenscheid, known as a “mountain town,” is the economic and cultural center of the Märkischer Kreis in North Rhine-Westphalia. The city combines a long history with a future-oriented development. The downtown area is characterized by a diverse mix of historic buildings, modern shops, and cultural facilities. Its proximity to the Sauerland region and excellent connections to the Ruhr area make Lüdenscheid an attractive location for both residents and investors.

The property itself is located in the heart of the city, just about 50 meters from the train station and approximately 150 meters from the town hall square. This central location not only offers excellent access to public transportation but also places shops, restaurants, cafes, and cultural facilities within walking distance. The central location guarantees high demand for housing and offers diverse rental possibilities for different target groups, from students to business travelers.

Financial Highlights:

• Current Annual Net Cold Rent: Approximately €80,000.

• Rental Increase Potential: Through targeted modernization, the rent can be increased to up to €100,000 annually.

• Additional Income: Converting the large cellar or renting out parking spaces in the courtyard could generate further rental income.

• Funding Opportunities: The property qualifies for various funding programs, including KfW loans for energy-efficient renovations, which can facilitate financing modernization measures.

Tax Advantages and Funding Opportunities:

Renovating the listed property not only increases its value but also offers tax advantages through enhanced depreciation. KfW funding programs and other state supports provide additional incentives for investors planning sustainable modernization measures.

Summary

This unique property in the heart of Lüdenscheid presents a rare opportunity to invest in a historic building with versatile usage options. Its central location, numerous residential units, and potential for investment measures create an attractive combination for capital investors. With the prospect of significant rent increases and additional income through conversion, this property represents a secure and profitable investment for the future.

Usage Potentials and Investment Opportunities

This property offers numerous development possibilities, including:

• Long-Term Rental: The current rental situation shows strong interest in the location. Renovation measures can achieve higher rents and make the marketing even more attractive.

• Short-Term Rental (Airbnb): Proximity to attractions and business districts makes the property especially interesting for tourists and business travelers.

• Student Housing: The proximity to universities and training institutions makes the building ideal for student accommodations.

• Assisted Living or Nursing Facility: The large number of small units and central location would be ideal for assisted living, with only minor conversion work required.

• Commercial Use: The basement and flexible floor plans allow for the setup of offices, practices, or storage rooms.

• Worker Accommodation: For trades companies and businesses that require temporary housing for their employees, the property provides an attractive option.

The potential for flexibility is limitless.