House for sale in Krefeld, Germany

From a buyer's perspective, this property description presents a challenging investment opportunity. Located in 47798 Kessment, this five-unit, three-story building (with an attached two-story annex) has a potentially high capacity for rental income. The individual apartment sizes range from 22 to 66 m², providing the potential to cater to different tenant preferences and budgets. With a total of 313 m² of living space, the property could yield a steady income stream for an investor. However, the property does come with significant drawbacks. The listed price of 105,000€ (with a possible 30% discount bringing the price to 73,500€) reflects the property's current state: it needs substantial renovation and sanitation. Additionally, a city official has banned the use of the building due to serious structural and fire safety concerns that have not yet been addressed, meaning any incoming tenant will be subject to renovation delays. As a lifestyle purchase, this property might not be the best option. Its location is unfamiliar, and the property requires extensive repairs. Plus, prospective buyers with families might be deterred by the lack of owner-occupied units in the building, which could lead to a solitary living situation. In conclusion, this investment property presents a great opportunity for someone who is willing to put in the work (and the money) to renovate and improve it. However, the ongoing city-mandated renovations and the uncertain timeline for resolving the official ban make this purchase a high-risk, high-reward proposition.