House for sale in Koln, Germany

Property Description: A) A two-story semi-detached house with two residential units in the front building, built in 1910 and with a basement. B) The rear building was formerly a commercial property, a laundry, two stories without a basement with a flat roof. It has two garages that have been converted into living spaces. The construction year of the rear building is unknown, probably from the 1930s, and it was repurposed in 1979. C) A one-story bungalow as a rear building with a flat roof, construction year also unknown, but probably from the 1950s. There are unresolved disputes over encroachments due to unclear property boundaries with the neighboring property, which has led to legal conflicts. Furthermore, there are extensive structural defects and damages, and all buildings are heavily worn. A complete investigation was not possible, so it is unclear if the structures will need to be demolished (due to unlawful construction or uneconomical repairs). Price thoughts: At a listed price of 520,000€, this property may seem high considering the extensive damages and legal issues mentioned in the description. However, with the potential for a 30% discount on the market value, bringing the price down to 364,000€, this property could be a good investment for someone willing to take on the necessary repairs and legal hurdles. It could be a project for someone looking for a restoration opportunity in a desirable location like Köln.