House for sale in Koln, Germany

Property description: This property is a semi-detached residential and commercial building with apartments, retail spaces, and office units. It spans 5 floors with a basement area of 105 m² used for storage. The total usable areas are 503 m² and 112 m², totaling 108 m² of living space and 722 m² of usable space. Additionally, there is a two-story extension with a basement. The reconstruction took place in stages, with the first floor rebuilt in 1951 and the second to fourth floors built in 1969. A partial redesign of the facade was done in 2007. The heating system is powered by a gas central heating system, renewed in 2011, with hot water provided by a water heater. It is advisable to check the structural fire protection, especially concerning the elevator and the 2nd emergency exit. The entrance to the rear residential building section can only be accessed through a property without right of way. The common cellar and transformer room are only accessible through the basement of the commercial unit. The energy efficiency, facade, and windows mostly reflect the year of construction, although some maintenance measures have been carried out. The overall structural condition can be considered satisfactory. Thoughts on the price: With a listed price of 8,700,000€, this property offers a unique investment opportunity given its size, location, and potential for different uses. Furthermore, the possibility of securing a 30% discount on the market value, resulting in a purchase price of 6,090,000€, makes it even more appealing. Additionally, the waived notary fees and agent commission add value to the overall deal. Overall, this property presents a compelling prospect for buyers looking to acquire a versatile and potentially lucrative real estate asset.