Move in or rent out? You decide! Renovated four-family house near Bielefeld city center
- Purchase price
- 535.000 €
- Living area
- 264 m²
- Rooms
- 16
RegionalImmobilien24
Key facts
| Type | Block of flats |
|---|---|
| Living area approx. | 264 m² |
| Bedrooms | 12 |
| Rooms | 16 |
|---|---|
| Bathrooms | 4 |
| Plot area | 411 m² |
|---|---|
| Usable floor area | 264 m² |
Purchase price & costs
| Purchase price | 535.000 € |
|---|---|
| Price per m² | 2,026.98 €/m² |
| Commission | 0 |
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Property no.: 1072840
Located in the eastern area near Bielefeld city center, this four-unit residential building presents an interesting opportunity for investors as well as owner-occupiers who wish to combine living and investment. The building, constructed in 1906, stands on a plot of approx. 411m² and has been extensively modernized over the past approximately eight years and brought up to date in key areas.
The house has four separate residential units and is fully basemented. Three of the four apartments are currently reliably rented and generate ongoing rental income. The fourth unit on the ground floor is currently vacant. This is a high-quality three-room apartment which, due to its well-maintained condition, can be occupied by the owner at short notice or re-let. Particularly noteworthy are the solid wood parquet flooring, the nearly new bathroom and the apartment’s modern features. The property is located on a heavily trafficked road; the property does not offer its own parking spaces.
The current annual net cold rent is approx. €22,000. If all four existing residential units were fully rented, an annual net cold rent of approx. €29,800 would be conceivable. In the long term, an annual net cold rent of approx. €34,000 is conceivable for the four units.
According to an architect, the attic is also likely to offer further potential for conversion into a fifth unit; no building-law assessment has yet been carried out.
Numerous important measures have already been carried out on the building in recent years:
• Replacement of the individual gas heating systems in 2021
• Replacement of the windows (PVC and double glazing)
• Replacement of the electrical system, including cables and sub-distribution boards, in three of the four residential units
• Renovation of the bathrooms in all units
• Installation of modern fitted kitchens in all apartments
• Modernization of the basement: installation of new tiles and renovation of the walls
In addition to the building, the approx. 411 m² plot offers a small garden area at the rear of the property. This is available for communal use by the residents and provides an additional outdoor area despite the inner-city or city-center-adjacent location.
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