House for sale in Remscheid, Germany

Property Description: This multi-family and commercial property consists of seven apartments and an office, spread across three floors plus a basement and a converted attic. The apartments range in size from 29 to 92 square meters, totaling 401 square meters of living space and 69 square meters of usable space. The property also features a terrace above a storage room in the rear area. Built in 1950, the building is heated by gas heaters, with hot water provided by the heating system and an electric instant water heater. The building receives ample sunlight and natural light. However, the condition of the building is neglected, with some cellar rooms, courtyard area, and attic being heavily cluttered. Four out of seven heaters do not function properly or at all. The electrical and plumbing fixtures are outdated, and the exterior grounds are neglected. Price Thoughts: The listed price for this property is at 301,000 EUR, but there is potential for a 30% discount on the market value, bringing the price down to 210,700 EUR. This discount, along with the waived notary fees and agent commission, presents an opportunity for significant savings on acquiring this property. It is important to consider the investment needed to renovate and bring the building up to standard given its current condition. The location in Remscheid adds to the potential value of the property, but thorough due diligence and planning are advised before making a purchase.