| Type | Block of flats |
|---|---|
| Living area approx. | 237 m² |
| Bedrooms | 6 |
| Rooms | 10 |
|---|---|
| Bathrooms | 4 |
| Plot area | 815 m² |
|---|---|
| Usable floor area | 40 m² |
| Purchase price | 499.000 € |
|---|---|
| Price per m² | 2,105.49 €/m² |
| Commission | 0 |
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This property in a central location in Paderborn represents an attractive opportunity for both investors and owner-occupiers. The good transport connections and established infrastructure underscore its sustainable rental potential and quality of living.
The multi-family house, originally built in 1906, underwent extensive core renovation in 1962, was extended by an addition, and was redivided in the course of this work. This created the current structure of the house.
The property currently comprises three approved residential units as well as an additional granny flat, meaning that it is effectively used as a four-unit building.
The total area is approximately 237 square metres. Of this, around 197 square metres constitute approved living space. A further approximately 40 square metres have been used as living space for some time, but are not approved as living space under building law.
The property is currently predominantly rented. Three of the four units are rented, while the ground-floor apartment is occupied by the owner. This apartment will be handed over vacant in the event of a sale, making the property highly suitable for both owner-occupiers and investors.
The existing potential for rent increases is particularly interesting for investors. With full occupancy, a total monthly net cold rent of around 2,100 euros appears realistic according to the assessment. For the apartment on the right on the 1st upper floor, an agreement has already been reached with the long-standing tenant, who has lived in the apartment for around 25 years. In connection with a change of ownership, the tenant has declared their willingness to adjust the current monthly net cold rent from 330 euros to 500 euros. The other units also offer further potential for market-based re-letting or rent adjustments.
The spacious plot measuring approximately 815 square metres offers a garden with terrace and creates additional residential value. The property is complemented by a double garage, which was approved and built in 1968.
Important modernisation measures have already been carried out. The facade insulation was installed in 2007. The windows date from the 1980s. The property is heated by three separate floor heating systems from 2004, 2008 and 2017.
Overall, this property offers an interesting combination of a solid rental situation, existing potential for rent increases, development opportunities and an attractive Option for owner-occupation in a sought-after location.
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