House for sale • 575 m² without real estateBerg. Gladbacher Str. 73 Köln Mülheim Nordrhein-Westfalen 51065

Below is the English translation of the text:

The heritage multi-family house on offer was built around 1905 on a plot of approximately 538 m². It is in a well-maintained condition. Spread over four floors and the converted attic, the property houses 9 well-proportioned 1- to 4-room apartments. The apartments range in size from approximately 28 to 80 m². In the extension, there is also the possibility to create a 30 m² apartment (former laundry room in the attic).

At the rear of the property there is an additional house for which an architect’s design already exists. At least 2 more apartments could be created there. One apartment would measure approximately 100 m² over 2 floors and come with a small garden and a garden house (for exclusive use). The smaller apartment would be around 60 m², also spread over 2 floors, and would feature a large roof terrace (approximately 20 m²). Each apartment has its own entrance. The house has already been gutted. In the rear area of the property, there is also a large garage/hall.

There is further potential for facade advertising, which could generate a rental income of approximately €250. Five of the apartments have individual gas-fired heating, 3 smaller apartments are connected to a central heating system, and one small apartment still has night storage heaters. Renting out is not an issue at all here (minimum €15 net per m²); any vacancy is only for renovation purposes. The demand for housing here is overwhelming.

For the actual net rent, a fictitious net rent of €15 per m² has been included for the owner-occupied attic apartment. One 47 m² apartment is leased at a reduced rate to a relative. In that case, it is assumed to yield €10 per m². Achieving the targeted €110,000 net annual rent is by no means a problem. The floor plans are provided as sketches to illustrate the room layout.

The multi-family house is located in 51065 Cologne-Mülheim, an up-and-coming district of Cologne with good infrastructure and a vibrant atmosphere that offers all the benefits of urban living. Everything needed for everyday life is within walking distance. For example, Frankfurter Straße is only about 450 meters away and Wienerplatz is approximately 600 meters away. In the immediate vicinity, there are various other shopping opportunities, such as a DM store, an Aldi, a Lidl, a REWE, several bakeries, etc. Healthcare is well covered by many medical practices located only 400 meters away, and the nearest pharmacy is also within walking distance.

The beautiful Rhine riverbank in Mülheim invites for strolls and is only about a 10-minute walk away. Several fitness studios, the “Schauspiel Köln” theater, as well as the concert hall “Das Palladium” or the event hall “Kulturbunker” provide attractive leisure options nearby.

The local dining scene also leaves nothing to be desired: among others, the “Gilden Brauhaus”, the restaurant “COQ AU VIN” and a steakhouse are all located within one kilometer and invite you to enjoy a meal.

The connection to public transport is excellent with several bus and train stops reachable on foot. Moreover, the motorway on-ramps to the A3 and A4 are only about 1 kilometer away, offering good connections to Frankfurt, Düsseldorf, and Aachen. This attractive location therefore offers excellent accessibility and all the amenities of an urban lifestyle.

The building offers ultra-fast Gigabit Internet (1000 Mbit/s)

- NetCologne fiber-optic

- Vodafone cable

Since the building is under heritage protection, an increased depreciation rate of 2.5% is possible. Landlords have the option to deduct 100% of the renovation costs over 12 years (the first 8 years at 9% each and the remaining 4 years at 7% each).