House for sale in Essen, Germany

Property Description: This semi-detached apartment building features six units with a total of 505 m² of living space spread across five floors. Each unit ranges in size from 62-96 m² and includes two balconies and a covered rooftop terrace. Additionally, each apartment comes with a basement storage room, and there is a garage assigned to unit No. 1. The building was theoretically constructed in 1971. The individual market values of the units range from 59,000 EUR to 100,000 EUR. The heating is provided by a district heating system, and the office unit No. 1 on the ground floor is being used as an apartment. However, proper building permits for this conversion or any other structural changes to the apartments have not been obtained. Price Thoughts: The property's listed price of 464,000 EUR seems reasonable for the size and number of units in the building. However, with the potential to secure a 30% discount on the market value, bringing the price down to only 324,800 EUR, this property presents an attractive investment opportunity. Plus, the fact that notary fees and agent commissions are waived adds to the overall value of this property. If you're looking for a property with potential for a discount and are willing to address any necessary permits, this could be a great option for you.