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45879 Gelsenkirchen
Property Description This property is a residential and commercial building with 23 apartments and one commercial unit. The building is 7 stories high, has a basement, and a flat roof. The living areas of the 23 apartments range from 48 to 112 square meters, totaling 1,730 square meters. The total usable area is 606 square meters. Additionally, the building has balconies, terraces, and 13 underground parking spaces. It was built in 1975. The heating is provided by a district heating central heating system, and hot water is supplied by an electric on-demand water heater. At the time of the valuation, most of the apartments were rented out, and not all units could be viewed. Access to the underground parking and delivery to the commercial unit on the ground floor is through another property, which means this use is not contractually secured. Various reductions in value have been made, including due to fire damage in the commercial unit. There are indications that no renovation work has been carried out. The land register shows a registered right of occupation for the apartments and a mortgage of €750,000 plus 15% annual interest at the time of the proceedings on 19.09.2024, which a potential buyer would have to take over according to the legal auction conditions. Price Thoughts The listed price for this property is €1,690,000, but there is potential for a 30% discount on the market value, making the final price €1,183,000. With the opportunity to save on notary fees and agency fees, this property could be a great investment opportunity. Please contact us for further inquiries or to learn more about this property.
45879 Gelsenkirchen