House for sale in Koln, Germany

Property Description: - A two-story semi-detached house with two residential units in the front building, built in 1910 with a basement. - The rear building was formerly a commercial property, a laundry business, two stories without a basement with a flat roof. It has two garages that have been converted into living spaces. The construction year of the rear building is unknown, likely from the 1930s, and it was converted in 1979. - A one-story bungalow as the rear building with a flat roof, construction year also unknown but likely from the 1950s. The property has unclear disputed encroachments due to unclear property boundaries with the neighboring property, leading to legal conflicts. Additionally, there are extensive structural defects and damages, and all buildings are heavily worn. A complete inspection was not possible, so it is uncertain if the structures need to be demolished (due to illegal construction or uneconomical repairs). Price Thoughts: The property is being auctioned at the local district court with a market value of 520,000.00 EUR. There is a possibility of securing a 30% discount on the market value, potentially bringing the price down to 364,000.00 EUR. Notary fees and agency commissions are also waived. This property may be of interest to those looking for a renovation project or investment opportunity, considering the potential discount on the market value. The unique mix of historic and commercial elements could appeal to buyers willing to take on the challenge of addressing the existing issues and bringing the property back to its full potential.