| Type | Block of flats |
|---|---|
| Living area approx. | 227 m² |
| Rooms | 6 |
|---|
| Plot area | 326 m² |
|---|
| Purchase price | 460.000 € |
|---|---|
| Price per m² | 2,026.43 €/m² |
| Commission | 3,57% (3,57% inkl. MwSt. vom notariellen Kaufpreis) |
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More financing calculators and assumptionsIn the dynamic environment of Kiel’s Gaarden-Ost district, investors have an exciting opportunity to expand their portfolios. For sale is a fully rented multi-family house built in 1965, constructed on a 326-square-metre plot and distinguished by its highly sought-after apartment structure. The property is specifically aimed at investors seeking to achieve attractive appreciation through active asset management.
The total living space of 227 square metres is divided among six compact one-room apartments, extending across three floors and all fully rented. The two lower floors each contain two residential units measuring 41 and 43 square metres respectively. The attic floor is complemented by two cosy units of 29.5 square metres each. The house has a full basement and provides each tenant with their own storage unit, as well as a communal laundry room. An additional drying room is located in the attic. The space offering is completed by three garage spaces on the property, which are also successfully rented.
From an economic perspective, the property is convincing due to its reliable income situation. The multi-family house currently generates solid actual rent of 25,740 euros per year. In view of the location and market development, however, there is clear optimisation potential: With appropriate measures and new lettings, a significantly higher rent can be achieved in the future, making the return prospects considerably more attractive for future owners.
The last major modernisation of the property took place in 1991. Currently, all apartments are heated by night-storage heaters. The new owner should anticipate a noticeable need for renovation, as some of the residential units are currently in a very worn condition. However, this backlog of modernisation is precisely the strategic lever for investors: Through targeted renovation work in the apartments and contemporary energy optimisation of the heating system, residential value can be increased substantially. This property is a classic value-add investment offering tangible potential for sustainable rent increases and long-term wealth accumulation in a sought-after residential location in Kiel.
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