Flat for sale 3+1 • 66 m² without real estateMünster Geist Nordrhein-Westfalen 48153

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The homeowners’ association consists of 7 condominiums as well as 2 parking spaces, with the private gardens reserved exclusively for the two owners of the ground floor units. Each condominium has its own separate storage room in the basement.

The multi-family house was built in 1952 and has been continuously maintained. In 1988, the attic was finished and the roof was completely redone.

Structurally and in terms of energy, the property is in an acceptable condition, carrying an energy efficiency rating of D, and has been regularly maintained. The most recent modernization measures within the past 5 years were:

• Construction of a bicycle parking space (2024)

• Installation of a video intercom system (2024)

• Replacement of the front door (2024)

• Construction of a garden fence (2024)

• Heating optimization (2020)

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

The property is located in the Geistviertel district, in the central district (Mitte). Nestled between Aaseestadt, Südviertel, Mecklenbett, and Berg Fiedel, the district is very centrally located. From here, you can reach the following destinations in just a few minutes (by bike/car):

• Prinzipalmarkt (10 min / 12 min)

• Aasee (11 min / 9 min)

• Main Train Station (10 min / 8 min)

• Highways A43 and A1 (21 min / 10 min)

The proximity to Hammerstraße emphasizes the central location. Diverse bus lines (1, 5, 9, N82) serve the area from here, and the city center is ideally reachable via the developed cycle path.

Everyday shops, 6 schools and 6 daycare centers, medical care, as well as shopping opportunities can be found in the immediate surroundings, particularly on Hammerstraße. Furthermore, the Clemens Hospital is located in the Geistviertel. A landmark of the district is the water tower, which was inaugurated in 1902 and served as the drinking water storage facility for over 100 years (until 2017). Typical for Münster: the Geistviertel alone is home to 5 churches.

Almost 10,000 people live here. The district has a very young population, with many students residing in the area; approximately 52% of the population is under 39 years old.

The Geistviertel developed after World War I, between 1921 and 1931. During this time, the district experienced the most extensive construction development in Münster. The incorporated farming community “Geist” gave the district its name. The name “Geist” (or “Geest”) refers to the high and dry glacial sands of Münsterland.

The Geistviertel is characterized predominantly by small-sized apartments, and the average household size is lower than that of Münster. For example, 1-2 room apartments account for roughly 80% of all households.

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

The apartment for sale, measuring 67.31 m², consists of 3 rooms, all of which are separately accessible, making it possible to rent out as a student flat-share. The rooms vary in size between 12 and 20 m². The kitchen, at approximately 11 m², invites you to linger. Furthermore, the condominium impresses with a south-facing balcony accessible from the kitchen. Laminate flooring has been installed in most rooms. The apartment also includes its own parking space and a private garden, which is a truly unique feature in Münster’s city center.

The condominium offered for sale has been rented to a family of four since 2010, who have always paid the rent on time. The rent amounts to €7,376 per year (€9.12 per m²). The parking space is currently not rented. The tenant is looking to move into a larger apartment due to the size of the current one and is actively seeking alternative housing options. Thus, the apartment is also ideally suited for owner-occupiers.

If the apartment were to be newly rented, a rent of at least €13 per m² could easily be achieved. This corresponds to an annual net cold rent of €10,599.