House for sale in Koln, Germany

Property Description: Detached multi-family house with three separate apartments, two floors, with a basement and converted attic. The living space varies between 58 and 91 m², totaling 240 m². Additionally, the house has a loggia, a patio, and a garage. Built in 1968. Currently, heating and hot water supply are provided by a non-functional Buderus oil central heating system. Originally built as a two-family house, it is now used as a three-family house due to the attic conversion. No building permit for the attic conversion. The property has general maintenance and modernization backlog, including structural defects and damages. Only the basement, attic, staircase, and exterior areas could be inspected. Price Thoughts: The property is being auctioned at a market value of 810,000.00 EUR. There is a possibility of securing a 30% discount on the market value, resulting in a purchase price of only 567,000.00 EUR. Additionally, there are no notary fees or agency commissions involved. Despite the maintenance issues and lack of proper permits, this property presents a potential opportunity for buyers looking to invest in a multi-unit residential property in a desirable location like 50767 Köln. Consider the potential cost of repairs and renovations when evaluating this property's overall value.