House for sale in Essen, Germany

Property Description Leasehold for a 2-family terraced house located on a hillside. The house is two stories, with a basement, flat roof, and a living area of 168.09 m², as well as a garage. Built in 1970, the garage was added in 1973, and the roof was newly covered around 1990. Additionally, there is a share of 1/5 in a garage courtyard (376 m²). The layout is as follows: The basement includes a hallway, 2 rooms, and a laundry room. The first apartment on the lower level consists of a hallway, 2 rooms, a terrace, totaling 45.09 m²; on the ground floor, there is a hallway, a guest toilet, a kitchen, a living/dining room, and a balcony with 58.76 m². The upper floor of the second apartment includes a hallway, a cloakroom, a guest toilet, a bedroom, a bathroom/toilet, a kitchen, a living room, and a balcony, totaling 64.24 m². A room on the lower level serves as a passage room; it is heated by night storage heaters. Hot water is provided by a continuous flow heater and an under-counter unit. The residential building is in average condition with mainly original equipment from the construction year and in need of renovations in certain areas. The leasehold is valid until July 2068. Thoughts on Price: The asking price of 279,000€ seems reasonable for the size and features of the property, considering it includes a garage and a share of a garage courtyard. However, buyers may have the opportunity to secure a 30% discount on the appraisal value, bringing the price down to 195,300€. This could make it an even more attractive investment for someone looking to purchase a property in this area. With some renovations and updates, this property has the potential to become a great home for a family or as an income-generating rental property.