House for sale in Hilden, Germany

Property Description: A three-story multi-family house with 9 residential units, cellar, and converted attic. The living space is 593 square meters and it features balconies, rooftop terraces, and garden terraces. The building was fictitiously built in 1973. Heating is provided by gas floor heaters, while hot water is supplied by electric instantaneous water heaters. The building has various structural defects and building damages, including cracking in the facade, peeling paint, dirt on the facade, damaged old clay roof tiles, dirt and paint needed on the soffit of the roof overhang, outdated wood and plastic windows with partially single-glazed design, missing seals, cracks in the panes, mold formation in various places, moisture in the flue, cracks in the terrace tiles, and outdated bathrooms. The estimated maintenance reserves amount to 60,000 €, taking into account the depreciation due to age and the overall condition. Price Thoughts: The listed price for this property is 940,000 €, which accounts for the current condition and needed repairs. However, there is an opportunity to secure a 30% discount on the market value, bringing the price down to 658,000 €. Additionally, there are no notary fees or agency commission involved in the purchase. This property presents a unique investment opportunity for those willing to renovate and restore it to its full potential. Please feel free to contact us for further information and to explore this property's potential.