House for sale in Hilden, Germany

Property Description A three-story multi-family house with 9 residential units, basement, and converted attic. The living area is 593 square meters and includes balconies, roof 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 instant water heaters. The building has various structural defects and building damage, including cracks in the facade, peeling paint, dirt on the facade, damaged old clay roof tiles, dirt and painting needed on the soffit of the roof overhang, outdated wood and plastic windows with partially single-glazed design, missing seals, cracks in the glass, mold formation in various places, moisture in the chimney, cracks in the terrace tiles, and outdated bathrooms.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. Thoughts on Price The property is listed at 940,000 EUR but may be purchased at a potential discount of 30%, bringing the price down to 658,000 EUR. This discount, along with the waived notary fees and agency commission, makes it an attractive opportunity for buyers looking to invest in a property with potential for improvement and value appreciation. The buyer would need to consider the additional costs of renovations and maintenance, but with the discount offered, it could be a worthwhile investment for the right buyer.