Investment property: MFH with 4 residential units in a quiet location in the heart of Rheinhessen

Information

Selling Price & Extra Costs

About this dream house

Property Description

The property consists of 4 residential units on a very large and beautiful plot. The front house with 105 sqm is currently being renovated and is also available for owner-occupation.

Property description Apartment 1:
-Front house from 1963 with approx. 105 m2 living space, 5 rooms, shower/bath, separate toilet, cellar, loggia. Independent supply (electricity, water, heating).
-Renovation in 2001: power lines, sockets & switches, cellar, screed, new floors, new bathroom, new roof covering.
-Renovation in 2021: new plastic windows, new gas condensing heating, new front roof, new front door, new skylights
-Current net rental income: EUR 1061.00 (EUR 991 rent + EUR 70 garage rent) plus EUR 100 service charges
This apartment is currently vacant and is being renovated.

Property description Apartment 2:
-Middle house upper floor from 1963 with approx. 50 m2 living space with access via the staircase, 2 rooms, bathroom with bathtub, kitchen (incl. fitted kitchen and washer-dryer from 2003), large hallway, small storage room, access via the staircase. Gas heating shared with apartment 3. The garage incl. large 20 m2 storage room is currently vacant and was previously rented to apartment 1.
-Renovation in 2010: Laying of laminate flooring
New instantaneous water heater installed in 2023.
-Current net rental income: EUR 460.00 plus EUR 120 service charges

Property description apartment 3:
-Rear building first floor and 1st floor from 1995 with approx. 138 m2 living space, 5 rooms, 2 bathrooms with bathtub, kitchen, fireplace, underfloor heating on the upper floor, 20 m2 balcony and 40 m2 terrace. In the basement there are utility and storage rooms as well as a shower/toilet and connections for retrofitting a sauna. The apartment has gas heating. The large garage has electric doors and access to the garden.
-Renovation in 2009: Renovation of the balcony by laying new tiles
-Current net rental income: EUR 990.00 plus EUR 290 service charges

Property description Apartment 4:
-Rear building attic with approx. 70 m2 living space with access via the staircase, 3 rooms, bathroom, kitchen, covered balcony, attic and cellar room. The apartment has gas heating.
-Renovation in 2010: New gas condensing boiler as floor heating
-Current net rental income: 600,00 EUR plus 95
EUR service charges

To protect the privacy of the tenants, there are no interior photos. However, you can enter the apartments during a viewing.

Other

Renovation / refurbishment of the property area:
-The courtyard was paved with old town paving in 2002.
-The courtyard lighting was converted to LED technology with motion detectors in 2021.
-The staircase door to the rear building was renewed in 2021.
All apartments are equipped with cable connections; there is a multi-use contract with Vodafone.
-There is still potential for rent increases.

Location

Location description

Location:
-With 2720 inhabitants, Schwabenheim is the largest single municipality in the Gau-Algesheim association of municipalities. It defines itself as the center of the Selz valley. With several stores for daily needs, doctors, a pharmacy and a post office, two petrol stations and an elementary school, the town is a center of attraction for the surrounding villages.
-Schwabenheim has developed into a modern residential community with a high quality of life and living thanks to its numerous commercial enterprises and good infrastructure. However, village features are still recognizable. This mixture is what makes Schwabenheim such an attractive place to live. Another contributing factor is the gastronomy, which is known far beyond the town boundaries. It attracts gourmets to the Selztal time and again.
-The local clubs and societies make a significant contribution to revitalizing cultural life and offer new residents the opportunity to integrate quickly and easily.

Location:
-The 4-family house consisting of 3 houses with 4 residential units is located in a quiet, upscale residential area below the main street of Schwabenheim.
-Due to its size and the generous plot of land, especially the garden, this property is ideal for own use as well as for renting, also to families with children and pets.
-Schwabenheim is located in the immediate vicinity of Mainz and Ingelheim and is therefore ideally suited as a place to live.