House for sale in Remscheid, Germany

Property description Multiple family and commercial property consisting of seven apartments and an office, three floors plus basement, with an 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. Year of construction: 1950. The property is heated by gas heaters, with hot water being 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 basement rooms, courtyard area, and attic partially cluttered. Four out of seven heaters are not functioning fully or at all. The electrical and plumbing fixtures are outdated, and the outdoor areas are neglected. Price thoughts Considering the neglected condition of the property and the need for extensive renovations and repairs, the initial asking price of 301.000€Kaufpreis seems to be on the higher side. However, with the potential to secure a 30% discount on the property's market value and pay only 210.700,00€Kaufpreis, this could be a great investment opportunity for buyers looking to acquire a property at a discounted rate. It's important for potential buyers to thoroughly assess the costs of renovation and repairs before making a decision on purchasing this property.