House for sale in Koln, Germany

Property description: Detached multi-family house with three separate apartments, two stories, with basement and converted attic. The living area varies between 58 and 91 m², totaling 240 m² of living space. Additionally, the house has a loggia, a patio, and a garage. Year of construction: 1968. Heating and hot water supply are currently provided by a non-functioning Buderus oil central heating system. The building was originally approved as a two-family house, but due to the later conversion of the attic, it is now being used as a three-family house. There is no building permit for the attic conversion. There are general maintenance and modernization backlogs in the building, including structural defects and damages. A viewing was only possible in the basement, attic, staircase, and outdoor areas. Thoughts on price: The property is being auctioned by the local district court at a market value of 810,000.00 EUR. However, there is a possibility of securing a 30% discount on the market value, resulting in a purchase price of only 567,000.00 EUR for this property. Additionally, notary fees and agency commissions are waived. This property may require significant investment for maintenance and repairs, so it is important to consider these factors when determining the overall value proposition.