Commercial apartment building in Essen, Germany, 810 m²

Germany. Essen. Apartment building.
Apartment building in 45143 Essen, 810.17 m² (plot 220 m²)
Property ID: 18031
Online viewing
Remote purchase
€1,500,000
€1,851/m²
Year of construction: 1952/1980/1990/2013
Floors: 1-2-3-4-5-6
Total area: 810.17 m²
Property status: Rented
Number of rooms: 16 apartments
Annual income (actual) €91,865.16 (6.12%)
Apartment building with growth potential in Essen
Key property characteristics
Property type: Apartment building
Number of apartments: 16
Floors: 6 (ground floor) Floor, upper floors, and attic)
Living area: 810.17 m²
Plot area: 220 m²
Condition: well-maintained
Heating: central gas
Additional features: courtyard, basement
This well-maintained apartment building, located in the Altendorf district of Essen, is for sale.
The property is located in an established residential area with well-developed infrastructure and excellent transport accessibility.
The building comprises 16 apartments with functional and popular layouts, ensuring stable rental demand and a steady cash flow.
Property Income
The current annual rental income is €91,865.16.
The lease agreements provide for step-by-step rent increases (Staffelmiete), ensuring a predictable and gradual increase in income without the need for contract revisions.
The building has been professionally managed for many years, and most tenants have been staying for a long time. Due to its convenient location, vacant apartments typically quickly find new tenants.
Investment Advantages
One of the key advantages of this property is that the building is already divided into individual apartments (WEG).
All 16 apartments are registered separately in the land register, allowing the investor to:
• Sell the apartments individually
• Realize additional potential for value growth
• Flexibly manage the investment strategy
Potential for Value Increase
The attic apartment offers additional development potential.
A nearby drying attic is currently not included in the existing property division. After amendments to the division declaration, it can be added to the attic apartment and registered as residential space.
This will allow:
• Increase the official living space
• Significantly increase the value of this apartment
Additional Source of Income
A large advertising billboard is located on the building's façade, generating additional regular income. Technical Condition of the Building
The building's roof was extensively renovated in 1991, with improved thermal insulation.
In subsequent years, certain sections of the attic and roof surface were structurally modified or expanded, so the level of thermal insulation may vary depending on the period of completion.
Building Facade:
• The street-facing façade has been insulated since approximately 1990.
• The courtyard-façade has no additional insulation.
Windows:
• All windows are double-glazed.
• The frames are plastic.
• The oldest windows date back to approximately 1980.
• Most windows were gradually replaced in subsequent years.
Heating:
• Central gas heating system installed in 2013.
• The system is regularly maintained by the Stadtwerke Essen utility company.
Hot Water:
• Decentralized.
• Most apartments have gas water heaters.
• Some apartments have electric boilers.
Location
The property is located in the central part of the Altendorf district of Essen. Transport accessibility is a key advantage:
Essen-West railway station is within walking distance and provides direct connections to the following cities:
• Mülheim
• Duisburg
• Düsseldorf
Essen Hauptbahnhof central station is just one stop away.
The immediate vicinity includes:
• supermarkets
• convenience stores
• schools and childcare facilities
• public transportation stops
Summary
The property represents an attractive investment opportunity, combining:
• stable annual income
• high rental demand
• possibility of selling apartments in stages
• potential for increasing living space
• additional advertising income
• prime location
Buyer commission +4.75% of the property price.
Details upon request.
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