House for sale in Duisburg, Germany

Property Description: This residential building has 21 apartments in three separate entrances. It spans three floors and a basement, with a total living area of 1,042 m². The apartments vary in size from 38 to 63 m² and have small balconies. The building was constructed in 1925 and rebuilt in 1953. There is a significant vacancy rate; the layout contains partially cramped rooms; heating is provided by a gas central heating system and gas floor heaters; the overall structural condition is poor to catastrophic; there are structural defects and a significant need for renovation and modernization; a detailed interior inspection was only partially possible. Please contact us with any further questions by phone, Monday - Friday from 08:00 - 20:00, Saturdays/Sundays 10:00 - 18:00 at the phone number 0221-97459790. This property will be auctioned at the local district court. Market value: €875,000.00. You may secure up to a 30% discount on the market value and pay only €612,500.00 for the above-mentioned property. Notary fees and brokerage commission are also waived. This is one of many interesting properties that we publish in the current monthly edition of our affordable REAL ESTATE AUCTION CATALOG. Get these details now to acquire your desired property at a low price. Price Thoughts: The property has great potential due to its size and number of units, but it requires significant renovation and modernization. The current market value seems fair given the condition of the building, but with the potential to secure a 30% discount through auction, it presents a unique opportunity for investors or buyers looking for a project with the potential for a high return on investment.