Flat for sale 3+1 • 68 m² without real estateMünster Geist Nordrhein-Westfalen 48153

Please no broker inquiries!!!

The community of owners consists of 7 condominiums as well as 2 parking spaces, which—as well as the private gardens—are not accessible to the two owners of the ground floors. Each condominium is assigned a separate storage room in the basement.

The multifamily building was constructed in 1952 and has been continuously maintained. In 1988 the attic was developed into livable space and the roof was completely renewed.

Both structurally and in terms of energy, the property is in an acceptable condition with energy efficiency class D and has been continuously maintained. The most recent modernization measures in the past 5 years were:

• Bicycle parking construction (2024)

• Installation of video intercom system (2024)

• Replacement of front door (2024)

• Construction of garden fence (2024)

• Heating optimization (2020)

Due to the subdivision of the property into individual condominiums in 2024, only a small maintenance reserve is available. However, no major renovation measures are planned for the coming years. The monthly service charge amounts to €283. The non-allocable operating costs are €110 per month, of which €39 is allocated to the maintenance reserve.

The location is part of the Geistviertel district, situated within the Mitte borough. Nestled between Aaseestadt, Südviertel, Mecklenbett, and Berg Fiedel, the district is extremely central. From here, you can reach the following destinations in just a few minutes (by bicycle/car):

• Prinzipalmarkt (10 min / 12 min)

• Aasee (11 min / 9 min)

• Main train station (10 min / 8 min)

• A43 and A1 (21 min / 10 min)

The proximity to Hammerstraße further emphasizes the central location. From there, various bus lines (1, 5, 9, N82) depart, and the city center is easily reachable via the developed bicycle path.

Everyday shops, 6 schools, and 6 daycare centers, medical services, and shopping opportunities can be found in the immediate vicinity, particularly on Hammerstraße. In addition, the Clemenshospital is located in Geistviertel. A landmark of the district is the water tower, inaugurated in 1902, which served as a drinking water reservoir for over 100 years until 2017. Typical for Münster: Geistviertel alone is home to 5 churches.

Approximately 10,000 people live here. The district is very youthful, with many students residing here; around 52% of the population is under 39 years old.

Geistviertel was developed after the First World War, between 1921 and 1931, during which Münster experienced its greatest building boom. The incorporated farming community Geist gave the district its name. The name Geist—or Geest—refers to the high and dry sandy deposits typical of Münsterland.

Geistviertel is characterized by predominantly small apartments, and the average household size is smaller than the Münster average. For example, 1-2 room apartments make up roughly 80% of the households.

The unemployment rate among people aged 15–64 is 3.31%, slightly below the Münster average.

The condominium for sale, measuring 67.31 sqm, consists of 3 rooms, all of which are accessible separately and can therefore also be rented as a student shared apartment. The rooms range between 12 and 20 sqm in size. The kitchen, at about 11 sqm, invites you to linger. In addition, the condominium boasts a south-facing balcony, accessible from the kitchen. In most rooms, laminate flooring has been installed. The apartment also includes a private parking space as well as a private garden, a true unique selling point in downtown Münster.

The condominium being offered for sale has been rented since 2010 to a family of four who always pay the rent on time. The annual rent amounts to €6,282 (7.78 €/sqm). The parking space is not currently rented. The tenant is looking to move to a larger apartment due to the size of the property and is actively seeking alternative housing, making the apartment ideal for owner-occupiers as well.

If the apartment were newly rented, a square meter rental rate of at least €13 could easily be achieved. This corresponds to a net cold annual rent of €10,599.