Multi-family house for sale in 24159 Kiel | Lütt Immobilien Kiel | No commission for buyers

Information

Selling Price & Extra Costs

About this dream investment property

Property Description

For sale is a multi-family house with a total of 4 residential units in the sought-after location of Kiel-Pries. The property is ideally suited as an investment and impresses with a stable rental situation as well as an attractive return. The rental agreements were last adjusted in November 2023.

The building, around 100 years old, is located in a charming residential area and is characterized by its versatile usage possibilities. The property is fundamentally habitable, however structural defects were identified during an inspection, making comprehensive renovation necessary.

According to a current expert report dated June 13, 2025, the building shows significant defects in its structural condition. In the basement area, heavily damp walls as well as corroded steel beams of the jack arch ceiling were identified. Cracks and a detached beam are also visible in the hallway, indicating structural movement. In addition, the facade shows continuous cracks, in places extending from the roof to the foundation. The crack monitors show slight activity.

Due to these structural and statically relevant issues, long-term safe habitability cannot be guaranteed without extensive renovation measures. The expert estimates the costs for necessary sealing, stabilization, and further renovation measures at approximately 180,000 to 220,000 euros. An additional structural assessment by a structural engineer is recommended.

Despite the required renovation measures, the property offers great potential as an investment. The current stable rental situation and the attractive location in Kiel-Pries enable promising profitability after the necessary maintenance and renovation measures have been carried out. The full expert report is available and can be viewed upon request

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