| Type | Block of flats |
|---|---|
| Living area approx. | 817 m² |
| Bedrooms | 10 |
| Rooms | 20 |
|---|---|
| Bathrooms | 10 |
| Plot area | 587 m² |
|---|---|
| Usable floor area | 817 m² |
| Purchase price | 689.000 € |
|---|---|
| Price per m² | 843.33 €/m² |
| Commission | 0 |
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Riverside location, an established residential environment and attractive development potential: For sale is a versatile property ensemble comprising a total of four buildings with 10 residential units, offering a total living area of approx. 820 m² on a quiet street in the popular Engers district of Neuwied, just a few steps from the Rhine.
The apartment building in the second row dates from around 1910 and was comprehensively refurbished between 2009 and 2010. The six residential units have a total living area of just under 430 m². The individual apartments range in size from approx. 55 m² to 93 m² and, with the exception of one upper-floor apartment and the attic apartments, each offer a balcony or terrace. All units except one ground-floor apartment are rented. Heating is provided by individual gas heating systems. The achievable annual net cold rent (target) amounts to around €44,490.
At the front of the property is a 2.5-storey detached house built around 1910, with a living area of approx. 157 m². The building has been unoccupied in recent years and would require complete refurbishment. This offers an interesting opportunity for individual redesign and value enhancement. Following comprehensive refurbishment and subsequent letting, an annual net cold rent of around €15,000 appears realistic.
Directly adjacent is another detached house dating from around 1910, which is currently rented and generates annual net cold rent of approx. €5,280. The living area is just under 112 m². The building is heated by a central gas heating system and is in a condition that can be expected to require partial renovation measures in the medium term.
The ensemble is completed by another apartment building from 1926 with two residential units. The living area is approx. 120 m². Overall, the building is in solid condition and is heated by two individual gas heating systems. The windows were last replaced in 2019. The attic apartment is rented, while the ground-floor apartment is currently vacant. If fully rented, potential annual net cold rent of approx. €13,560 can be achieved.
Following the refurbishment and reletting of the currently vacant detached house, as well as the full letting of the available residential units, annual net cold rent of just under €80,000 can be achieved for the entire property ensemble.
This Real estate ensemble offers a rare combination of ongoing rental income, additional development potential, and long-term prospects for appreciation. An interesting opportunity for investors seeking a return-oriented investment and willing to unlock further potential through targeted renovation and refurbishment measures.
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