Building for sale in Duisburg, Germany

Property Description: This building is a residential and commercial property with 5 apartments and former bank rooms. It spans over 4 floors, has a basement, and a total of 574 m² of living space and 2,967 m² of usable space. Additionally, it has an underground garage with 25 parking spaces and 15 outdoor parking spaces. The building was constructed in 1983. The heating is done through district heating, which was modernized in 2007. The equipment on the ground floor mostly still corresponds to its original use. The construction costs of the building were above average, however, the structural condition is rated as average. There are areas with maintenance backlog as well as renovation and modernization needs. A large part of the building is purpose-built with individual floor plans and limited usability for other purposes, especially on the ground floor. The apartments are supposed to be vacant, however, they were not yet cleared at the time of the valuation and partially still furnished (office furniture, IT equipment, kitchen fixtures, pictures). Abandoned vehicles, unidentified goods on pallets, and machines were also found (which cannot be considered as accessories). Thoughts on Price: The property is currently listed at a purchase price of 2,540,000€. However, there is an opportunity to potentially secure a 30% discount on the market value, bringing the price down to 1,778,000€. This presents a significant savings opportunity for potential buyers. Additionally, there are no notary fees or agency commissions involved in the purchase. The property offers a unique investment opportunity with potential for renovation and modernization to increase its value.