Other for sale in Leverkusen, Germany

From a buyer's perspective, this property is located in Leverkusen and consists of multiple connected buildings, including a multi-family house, a mixed-use building, and a former brewery. The buildings, which date back to the years following 1928, offer 7 residential units spread across 2-3 floors, providing a total living area/net area of 913 m² including balconies and a rooftop terrace. The property has being heated using gas-fired wall heaters without prior approval from the authorities, with several areas already shut down by the building inspection office in 2019. Some heaters have been deactivated or have had their heaters removed, leading to severe mold growth. The hot water supply is ambiguous. The buildings also have significant roof damage and leaks, which cause water infiltration. There is a considerable backlog of maintenance, repair, and renovation work required. For a real estate investment, this property may not be a good option due to its quoted price of 1,050,000€ and the extensive repair work needed. The seller suggests a 30% discount on the estimated market value (1,050,000€), bringing the price to 735,000€. However, this price may still be too high given the property's current condition. As a lifestyle purchase, the property has potential, but it would require significant work and investment to make it livable. The buyer should carefully consider the extent of the needed repairs, potential costs, and time required to bring the property up to code before making a decision.