House for sale • 388 m² without real estateDuisburg Hochfeld Nordrhein-Westfalen 47053

The multi-family house was extensively renovated in 1998. The exterior façade was fitted with a thermal insulation system, and all windows are equipped with thermal-insulating glass. The roof was also renewed as part of the renovation.

In 2015, the entrance hall was renovated as well. The staircase steps were newly clad, and the walls were painted.

The multi-family house comprises 4 floors with a total of 6 apartments, offering 388 sqm of living space overall, on a plot size of 270 sqm. In addition, there is a courtyard and a full basement for the entire building.

On the ground floor: there are 2 small apartments of approximately 34 sqm each, which are 1-room units.

From the 1st floor to the 3rd floor: there are identical 4-room apartments with a total living area of 90 sqm. They feature a large kitchen-living area and 4 similarly sized rooms, all accessible from the hallway. In the 3rd floor, 2 rooms were merged, which were formerly used as a dining room.

Attic: The attic apartment was converted in 1998 and measures 50 sqm. Previously, the attic apartment, together with the apartment on the 3rd floor, was used as an owner-occupied property of 140 sqm.

!!! The apartment sizes are ideal because there is currently a huge shortage of small 1-room and 4-room apartments. Therefore, both apartment types are in extremely high demand and can be re-let very quickly, if they ever become available…

Duisburg is undergoing a transformation from its former industrial city image to a family-friendly residential city. Here, one lives centrally with good infrastructure and all the essentials of daily life.

Hochfeld is very popular among many families and students who feel at home here, appreciate the central location, and value the relatively affordable rents.

Equipment:

The apartments are in a simple but standard condition. Since we are talking about a modest residential area, the basic apartment equipment is still highly marketable and in demand. The building is located near the industrial area in Hochfeld, so there is no shortage of parking spaces.

Rental Situation:

All apartments have long-term tenants. There has been very little turnover. The oldest rental contract dates back to 2003 and the most recent to 2020. Three apartments in the building are occupied by one family. The children, who grew up in the building, later returned with their own families.

For this reason, the rents have not been constantly adjusted, and the potential for rent increases has been fully exploited. As an owner, I have especially focused on a straightforward and pleasant rental concept.

The annual net cold rent amounts to 25,164 euros. This corresponds to a factor of 13.9 and a price per square meter of approximately 900 euros.

Potentials:

- Possible reconfiguration of the apartments. In the neighboring building, all apartments with identical sizes were also sold.

- Special rental models: Renting out as seasonal worker apartments could also generate additional returns if someone has expertise in this segment. In the ground floor apartment, the small apartment has been sublet as a seasonal worker apartment for more than 10 years.

- Rent increases or adjustments.

- With a durability audit in place, the building contains a mechanism for long-term tax optimization. Combined with the relatively low plot prices, high depreciation on the building portion can be realized.

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