House for sale in Duisburg, Germany

Property Description This residential building features 21 apartments in three separate entrances. It spans three floors and a basement, with a total living area of 1,042 m². The apartments range in size from 38 to 63 m² and have small balconies. The building was constructed in 1925 and rebuilt in 1953. There is a significant amount of vacancy; the layout includes some cramped spaces; heating is provided by a gas central heating system and individual gas heaters; the general condition of the building is poor to catastrophic; there are structural defects and a substantial need for renovation and modernization; a detailed interior inspection was only partially possible. Price Thoughts The listed price of 875,000 EUR reflects the current market value of the property. However, considering the poor condition of the building and the need for extensive renovation, there may be room for negotiation. With the potential to secure a 30% discount on the appraised value, the property could be acquired for 612,500 EUR. Additionally, the waiver of notary fees and agent commissions presents a cost-saving opportunity for potential buyers. In light of the property's condition and the opportunity for a reduced purchase price, this could be a compelling investment for those willing to undertake the necessary renovations.