Description

Residential Building with 7 Residential Units and One Commercial Space in Essen This 4-story building, constructed in 1973, has been regularly renovated and meets modern energy-saving and convenience standards. The building comprises seven apartments with a total area of approximately 462 m² and one commercial space of about 400 m². The total land area is approximately 1023 m². The commercial space, which is fully leased to a shop, occupies the entire first floor. The upper floors house the apartments. All units are rented out. The property includes 5 external parking spaces. The total annual rental income is approximately €72,312.00. Please note that upon purchasing the building, you do not acquire ownership of the land and will need to pay a land lease of €13,601.88 per month, which reduces the profitability. The land is subject to construction rights (succession rights). Net income: €72,312.00 - €13,601.88 = €58,710.12 per year, or about 9% annual return. Detailed information and floor plans available upon request. The property is located in the Kray district of Essen, about 6 km from the city center. Various shops are within walking distance. Essen is located in North Rhine-Westphalia in western Germany, with a population of approximately 590,000. Along with Pécs, Hungary, and Istanbul, Essen was named European Capital of Culture in 2010. Essen is home to the headquarters of the major German gas supplier and transporter E.ON Ruhrgas. The Messe Essen exhibition complex hosts the world's largest board game fair, Internationale Spieltage, each year. Essen's railway station is classified as a category 1 station, ranking it among the top 20 main stations in Germany. The city has 3 light rail lines. Ref. No: 7512 Type: Building Area: 862 m² Year Built: 1973 Status: Leased Yield: 9%