House for sale in Burscheid, Germany

Property Description A complex consisting of three residential buildings with a total of 59 apartments (ranging from 1 to 4 rooms). The buildings are each nine stories high, basemented, and offer a total living space of 3,651 square meters. The property includes balconies, five integrated double and single garages, as well as 16 additional garages in the garage courtyard and 27 open parking spaces in front. The buildings date back to the years 1972/73. Heating and hot water supply are provided by gas central heating. There is a significant need for urgent repairs, as the buildings are in moderate to poor condition with high damages. As a result, some apartments are currently not habitable or rentable. 22 apartments are currently vacant. Price Thoughts The listed price of 3.265.000€ reflects the current market value of the property, taking into consideration its size, location, and potential for renovation. However, due to the urgent repair needs and vacancies, there is room for negotiation. With a potential discount of 30% off the market value, the property can be acquired for 2.285.500€, making it a more attractive investment opportunity. Additionally, the absence of notary and agent fees further adds to the potential value for the buyer. Overall, this property presents a unique opportunity for investors looking to acquire a substantial residential complex at a discounted price.