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House for sale in Hagen, Germany
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House for sale in Hagen, Germany

2 251 900€

58119 Hagen

Investment Breakdown

Gross Yield:

7.5%

Time to pay off with rent:

15638.2 years

Price Difference:

-15%

Expected Rent:

12€/month

Property description

Property Description: This property consists of a mixed-use building complex featuring a residential and commercial building with a total living area of 512 m² situated on a plot with a utilization area of 1,308 m². Additionally, there is an annex designed for retail purposes and two multi-family houses with living and usable areas of 319 m² and 110 m² respectively, alongside another structure with 547 m² of living space. The complex includes a total of 31 garages, providing ample parking and storage options. Built in 1973, the main building has undergone various changes, and it is important to note that the entire top floor of the residential and commercial building was damaged and rendered uninhabitable due to a fire incident that occurred in July 2022. Furthermore, there are signs of moisture damage in some of the apartments, and light facade damages are present on the garages. Additionally, there are entries in the building encumbrance register that have been taken into account in the property valuation, and these remain unaffected by the ongoing foreclosure process. This property presents potential, but it also signifies a project that may require significant attention and investment to restore its full value and usability.

Location

58119 Hagen

Date added: 07.12.2024

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