Commercial apartment building in Kassel, Germany, 680 m²

Germany. Kassel. Apartment building near Karlsaue, Kassel South
Frankfurter Strasse/Mozartstrasse corner 91, South, 34121 Kassel
€1,297,000
680 m²
Plot area 496 m²
Floors 4
Commercial area 75 m²
Number of parking spaces 2
Annual rental income €73,572
Buyer's commission +5.95%, including 19% VAT
Annual rental income €84,607
Building structure and energy performance certificate
Year of construction: 1958
Heating type: Individual underfloor heating
Property condition: Renovated
Primary energy source: Gas
Last modernization: 2020
Renovation
Energy performance certificate not required by law
Location criteria
Within walking distance of public transport Transportation: 1 min.
Travel time to the nearest highway: 5 min. Travel time to the nearest train station: 10 min.
Travel time to the nearest airport: 35 min.
This well-maintained and well-managed apartment building, consisting of 9 residential units and a commercial space (hair salon), is located in a good and sought-after residential area near the popular Karlsaue Park in the southern part of the city (2-minute walk).
This all-basement apartment building was built around 1958 using sustainable construction methods and has undergone extensive modernization, particularly since 2010.
Modernization includes the roof, facade, bathrooms, floors, stairwell windows, and painting.
The building is in good condition and is regularly maintained. The new rusticated stucco façade is particularly eye-catching, creating a harmonious overall appearance with the other Gründerzeit buildings on Mozartstrasse.
The current annual net rent is €73,572, plus utilities.
Heating is provided by individual gas boilers. This is an extremely convenient solution for landlords, as heating and electricity costs are paid directly by the respective utility companies.
District heating is already present on the street.
Fiber optic internet installation has been approved and will be completed in the building in the coming months.
All apartments have a classic, easily rentable layout with three or four rooms, a kitchen, a bathroom, and a balcony. With the exception of one bathroom, the bathrooms are finished in white tiles, and the apartments feature modern flooring and double-glazed windows. All apartments are currently rented to secure, financially secure, and long-term tenants.
The combination of a quiet yet well-connected location, functional apartment sizes, and a solid building structure makes this property an attractive investment with excellent rental potential and a rare opportunity in the southern district of Kassel.
Features
5 apartments, 65 m² each, 3 rooms, kitchen, bathroom, and balcony
4 apartments, 70 m² each, 4 rooms, kitchen, bathroom, and balcony
1 commercial space, 75 m²
2 parking spaces
1 garden
Location
The location next to Karlsaue Park provides ideal public transport connections (directly at the building), and all shops are nearby. The popular Auerpark is just a few minutes' walk away. Kassel city center is also easily accessible.
The property is located in Kassel-Süd, in a central, easily accessible, yet quiet location.
The building is a listed building, so an energy performance certificate is not required.
This also offers potential tax advantages.
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