House for sale in Koln, Germany

Property description: Detached apartment building with three separate units, two floors, with a basement and converted attic. The living spaces range from 58 to 91 sqm, totaling 240 sqm of living area. In addition, the house features a loggia, a patio, and a garage. Built in 1968. Currently, heating and hot water supply are provided by a non-functional oil central heating system from Buderus. Originally approved as a two-family house, the addition of the attic has allowed for use as a three-family house. No building permit exists for the attic conversion. The property is in need of general maintenance and modernization, including structural defects and damages. Only the basement, attic, staircase, and outdoor areas were available for inspection. Thoughts on price: The property is being auctioned at the local district court for a market value of 810,000.00 EUR, however, there is a possibility of securing a 30% discount on the market value, making the purchase price 567,000.00 EUR. Notary fees and agency commission are waived. This property may present a unique investment opportunity for those willing to invest in renovation and upkeep. Interested buyers are encouraged to consider this property among others listed in our monthly real estate auction catalog, available for further information by contacting us at the provided telephone number.