House for sale in Gelsenkirchen, Germany

Property Description: This residential and commercial building in Gelsenkirchen consists of 23 apartments and one commercial unit. The 7-story building has a basement and a flat roof. The living spaces of the 23 apartments range from 48 to 112 m², with a total living area of 1,730 m². The total usable area is 606 m². Additionally, the building features balconies, terraces, and 13 underground parking spaces. It was built in 1975 and is heated by a district heating central heating system, with hot water provided by an electric instantaneous water heater. At the time of valuation, most of the apartments were rented, and not all units could be viewed. Access to the underground garage and delivery to the ground floor commercial unit is through another property, which means this usage is not contractually guaranteed. Various impairments have been made, including due to fire damage in the commercial unit. There are indications that no renovation work has been carried out. The land register shows a registered right of occupancy for the apartments and a mortgage of 750,000€ plus 15% annual interest at the time of the proceedings on 19.09.2024, which a potential buyer would have to take over in accordance with the legal auction conditions. Price Thoughts: The asking price for this property is 1,690,000€, however, there is a possibility of securing a 30% discount on the appraised value, making the final price only 1,183,000€. This discount also includes the waiver of notary fees and agent commission. This property offers a unique opportunity for potential buyers to acquire a sizeable building with both residential and commercial units at a discounted price. This property is one of many interesting listings featured in our monthly real estate auction catalog. Contact us for more information on how to purchase your desired property at a discounted rate.