House for sale in Str. 52 45884 Gelsenkirchen, Germany

• Keller

Property description: This impressive multi-family house, built in 1911, offers a generous living space of 570 m² and an additional commercial space of 100 m², which can be easily converted into another apartment. Currently, the former restaurant is vacant due to an unfortunate incident. However, it is important to note that extensive renovation work has already been undertaken, with 60% of the renovation completed. The main house of the property consists of 9 residential units and one commercial unit. In addition, there is an annex spread over three levels that can be used as a 10th apartment. The annex has already been renovated, with the exterior facade properly insulated and plastered. Discussions are already underway with potential tenants for the available commercial space. The option to convert the commercial space into an additional apartment presents various opportunities for investors and future tenants. Thoughts on price: The price of 820.000€ for this property seems reasonable considering the size of the property, the potential rental income from multiple units, and the ongoing renovations. With a mix of residential and commercial units, as well as the possibility of further converting the space to meet market demand, this property presents a promising investment opportunity. It may require additional investment to complete the renovations and attract tenants, but the potential returns make it a worthwhile investment for the right buyer.