House for sale in Koln, Germany

Property description: This single-story residential and commercial building in 50677 Köln features a basement and converted attic space. It includes a one-story courtyard conversion and an atrium, with a total living and usable area of 174/643 m². Built in 1952, expanded in 1953, and converted in 2003, the building offers a layout that includes storage rooms, WC facilities, and building services in the basement; various office and meeting rooms, a retail space with exhibition areas, WC facilities, storage room, utility room, and terrace on the ground floor. The converted attic space houses a apartment with multiple rooms, kitchen, hallways, bathroom, WC, loggia, and rooftop terrace. There is a need for repairs and modernization, as well as structural defects and damages. The property is being auctioned by the local district court with an estimated value of 2.145.000,00 EUR. There is a possibility of receiving a 30% discount on the appraised value, making the purchase price only 1.501.500,00 EUR. Notary and agency fees are also waived. This property is just one of many interesting real estate opportunities featured in our monthly real estate auction catalog. Contact us to secure this information and acquire your dream property at a discounted price. Thoughts on price: The initial asking price of 2.145.000,00 EUR reflects the potential of this property in a desirable location like Köln. However, with the possibility of receiving a 30% discount through the auction process, the reduced price of 1.501.500,00 EUR presents a great opportunity for buyers looking to invest in a property with room for improvement. With the waived notary and agency fees, this could be a wise investment for someone willing to take on the necessary repairs and renovations to maximize the property's value.