House for sale in Wuppertal, Germany

Property Description This four-story multi-family house with a basement and converted attic features a total of ten 1 and 2-bedroom apartments. The living spaces range from 35 to 60 sqm, totaling 499 sqm. Each apartment also includes a loggia, as well as cellar rooms. The exact year of construction is unknown, but it is estimated to be around 1970. The individual market values of the apartments range from 39,000 EUR to 76,000 EUR. The heating is provided by a gas combi boiler, and the electrical system is outdated with simple equipment. Thoughts on Price The asking price for this property is 594,000 EUR, which may seem high at first glance. However, considering the potential for renovation and rental income from the ten apartments, this property could be a lucrative investment opportunity. With the possibility of securing a 30% discount on the market value, the final price of 415,800 EUR makes it an attractive option for potential buyers looking to acquire a property with high income potential. Additionally, the fact that notary fees and agency commission are waived adds to the overall appeal of this investment.