Commercial apartment building in Essen, Germany, 486 m²

Germany. Essen. Apartment building.
Apartment building in 45143 Essen, 486.98 m2; (plot of land 281 m²)
Property ID: 18033
Online viewing
Remote purchase
€1,500,000
€3,080/m²
Property type: apartment buildings
Year of construction: 1973/2014
Floors: 1-2-3-4
Total area: 486.98 m²
Property status: Rented
8 apartments and 2 garages
Annual income (actual) €58,122.24
Siemensstraße 8, 45143 Essen
Type: Apartment building
Number of apartments: 8
Garages: 2
Courtyard: Large garden
Basement: Yes
Number of floors: 4 (ground floor + upper floors + attic)
Plot area: 281 m²
Living area: 486.98 m²
Condition: Well-maintained
Heating: Gas (individual gas boilers/heating per apartment)
The property is located in the heart of the Essen-Altendorf residential area, in a quiet yet central location with a well-developed infrastructure. The robust steel-reinforced concrete structure provides strength and excellent sound insulation. The façade is fully insulated, ensuring a comfortable indoor climate and efficient energy consumption.
The building comprises eight residential units with functional and well-designed layouts, ensuring stable rental demand. Two separate garages, each with its own street-facing gate, are in high demand among tenants. Furthermore, the garage space offers medium-term development potential, which is not yet factored into the current yield assessment.
The spacious rear garden creates a green oasis within the urban environment, offering residents a pleasant view and the opportunity for shared use. Leases are generally long-term, and the rental situation is stable. New leases in this area are signed fairly quickly, as practice shows. Leases include legally permitted incremental indexation (step rent), ensuring planned and stable income growth.
Numerous shops, schools, doctors' practices, and public transportation are within walking distance. The city center is just 3 kilometers away and easily accessible by bus, train, or bike.

Therefore, this property combines reliable construction quality, stable income, and an attractive location with sustainable growth potential—an excellent opportunity for both investors and long-term property owners.

The building generates an annual income of €58,122.24.
Buyer commission +4.76% of the property price.
Details upon request.
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