Commercial apartment building in Essen, Germany, 791 m²

Germany. Essen. Apartment building.
Apartment building in 45143 Essen, 791.60 m² (plot size: 449 m²)
Property ID: 18032
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Remote purchase
€1,500,000
€1,894/m²
Property type: Apartment buildings
Year built: 1960
Floors: 1-2-3-4
Total area: 791.60 m²
Property status: Leased
2 commercial spaces and 8 apartments
Annual income (actual) €95,028 (6.33%)
Property details
Type: Apartment building
Number of apartments: 8
Commercial spaces: 2
Rear building/courtyard:
storage and multifunctional spaces, office space, covered courtyard. Basement: yes
Floors: 4 (ground floor + upper floors + attic)
Plot area: 449 m²
Living area: 455.94 m²
Commercial area: 335.66 m²
Condition: well-maintained
New central heating system: connection to the city's central heating system (Fernwärme)
Features:
• Covered courtyard
• Newly converted attic
Property Description
This residential and commercial building is located in the central part of the Essen-Altendorf district, on a busy shopping street.
Various retail stores, restaurants, and public transportation are nearby.
The building comprises:
• 8 residential apartments
• 2 commercial spaces on the ground floor
A fully covered courtyard is available for the use of commercial tenants and serves as additional flexible space. This allows entrepreneurs to use it for various activities or combine several types of businesses simultaneously—a significant advantage for diverse commercial concepts.
As part of the attic renovation, four new apartments were created on the attic floor.
The associated roof insulation improves the building's energy performance.
The new one-bedroom apartments meet modern requirements and are well suited for rental purposes.
After connecting to the city's central heating system, the building's heating system was completely modernized: the old individual heating systems in the apartments were replaced with a modern central heating system.
This:
• improves the building's energy efficiency
• ensures stable operating costs over the long term. Equipment and technical condition
• capital (brick) construction
• year of construction approximately 1950–1960
• new heating system from the city network (Fernwärme)
• modernized heating distribution system
• recently converted attic with 4 apartments
• commercial space with a covered courtyard
• storage and office space at the rear of the building
• the property is in good condition
Income of the building
Annual income
€95,028
Monthly income
€95,028 ÷ 12 = €7,919 per month
Income per square meter
Total area:
• residential: 455.94 m²
• commercial: 335.66 m²
Total:
791.60 m²
Income per m²:
€95,028 ÷ 791.6 m² ≈ €120/m² per year
or
≈ €10/m² per month
This is a typical rent for the Essen-Altendorf area.
Buyer commission +4.76% of the property price.
Details upon request.
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