| Type | Ground-floor flat |
|---|---|
| Floor | 0 |
| Living area approx. | 60 m² |
| Year built | 1962 |
| Bedrooms | 1 |
| Available from | sofort |
|---|---|
| Rooms | 2 |
| Bathrooms | 1 |
| Heating | Central heating |
| Fuel type | Oil |
| Condition | Refurbished |
|---|---|
| Floors in the building | 3 |
| Usable floor area | 60 m² |
| Purchase price | 285.000 € |
|---|---|
| Price per m² | 4,750.00 €/m² |
| Commission | no commission for buyers |
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More financing calculators and assumptionsThe apartment for sale, currently vacant, is located in a well-maintained multi-family building of solid construction dating from 1962. The building comprises a total of nine residential units and, thanks to its manageable size, conveys a pleasant and quiet living atmosphere.
The apartment has its own basement storage room, which provides additional storage space. A particular highlight is the recently redesigned balcony. The original balcony was removed and replaced by a spacious, sunny balcony, giving the apartment an attractive additional outdoor area with a high quality of stay.
Further structural measures were required in the course of the balcony renovation. The basement entrance at the rear of the building was renewed in order to continue to ensure safe and comfortable access to the basement. In addition, the glazing of the stairwell was renewed.
The building has also already been comprehensively upgraded in terms of energy efficiency. Around 2005, an external thermal insulation composite system (ETICS) was installed, significantly improving the energy quality of the building envelope. In addition, the property has double-glazed plastic windows.
The building is heated by an oil-fired central heating system from 2006. The final energy consumption stated in the energy performance certificate is 136.2 kWh/(m²·a), corresponding to energy efficiency class E.
Overall, the property presents itself as a solid residential complex with modernization and maintenance measures already completed and an energetically improved building envelope. Particularly noteworthy are the newly designed, spacious balcony, the measures already carried out on the common property, and the manageable size of the residential complex with only nine units.
The apartment is excellently suited both for owner-occupancy and as an attractive investment property. It is being sold in the modernized and well-maintained condition shown in the pictures and, thanks to the comprehensive renovation, offers an excellent basis for long-term and sustainable use.
A special feature of the apartment is its bright, light-filled living atmosphere. Thanks to good sunlight and the generous balcony, the living spaces are pleasantly supplied with daylight and convey a friendly, open sense of space.
The apartment was comprehensively and to a high standard renovated in 2022/2023. This involved not merely modernizing the bathroom, but thoroughly refurbishing the entire apartment from the ground up. Nearly all areas were renewed or completely redesigned. From the electrical installation and the floor coverings to the walls and the kitchen, investment was made in every room. The existing doors were professionally refurbished and renovated.
The renovation work included, among other things:
complete renewal of the electrical installation
high-quality new floor coverings throughout the apartment
modern, durable click vinyl/parquet flooring
complete renewal of the bathroom, including tiles, fittings, sanitary fixtures, and electrics
new fitted kitchen
all rooms comprehensively renovated and redesigned
walls fully refurbished and refinished
refurbished and renovated interior doors
comprehensive painting and renovation work throughout the apartment
As a result, following the renovation the apartment presents itself almost entirely in a new and contemporary condition. The work carried out is documented by corresponding invoices, so that the extensive investments are transparently traceable.
The well-thought-out layout comprises an inviting entrance area with a hallway, two well-proportioned bedrooms, a generous and particularly bright living room with direct access to the newly designed, large balcony, a modern kitchen, and the completely renewed bathroom.
The common property has also been upgraded in recent years through various measures. These include in particular:
year of construction 1962
oil central heating from 2006
already installed external thermal insulation composite system (ETICS)
newly designed and generous balcony
newly laid lawn area
renewed stairwell glazing
new paintwork in the stairwell
own cellar room
Particularly noteworthy is the interplay of the apartment’s comprehensive renovation, the bright and friendly living atmosphere, the generous balcony, and the modernization measures already carried out on the common property.
For capital investors, the property offers an interesting starting point, as the modern and almost as-new interior fit-out has created a contemporary living standard that supports long-term lettability. At the same time, the apartment is ideally suited to owner-occupiers seeking an already comprehensively modernized home without any immediately required renovation work.
The combination of a fully modernized interior, a generous balcony, good natural light, and measures already carried out on the building makes the apartment an attractive property both for owner-occupation and as a sustainable capital investment.
Existing tenancy – ongoing income
A particular advantage for capital investors: The apartment is currently rented and already generates ongoing rental income.
The current monthly rental arrangement is as follows:
Net cold rent: €980.00 per month
Advance payment for operating costs: €125.00 per month
Advance payment for heating costs: €125.00 per month
Total payment by the tenant: €1,230.00 per month
Annual net cold rent: €11,760.00
The purchaser therefore takes over an already rented and modernized apartment with existing cash flow, making the property particularly attractive to investors who value rental income that is as immediate and transparent as possible.
The specific gross rental yield can be calculated individually based on the respective purchase price. What matters is that the buyer is not merely presented with theoretical rentability, but with an existing tenancy generating ongoing income.
Location with long-term prospects
In addition to the current rental cash flow, the development of the location is particularly relevant to a long-term real estate strategy.
Eidelstedt benefits from its integration into the Hamburg real estate and labor market, good transport infrastructure, and proximity to established residential and business locations. The Eimsbüttel district is also pursuing long-term development goals and is focusing, among other things, on the further development of existing neighborhoods and additional housing potential. The district’s current housing construction program identifies a total of around 9,100 potential residential units on 101 sites for the period up to 2029 and beyond.
From an investor’s perspective, the property combines several key factors:
Existing property + comprehensive modernization + existing tenancy + attractive outdoor area + established Hamburg residential location.
The comprehensive renovation already carried out reduces, in particular, the short-term need for renovation within the apartment and creates a contemporary standard of living. At the same time, the existing tenancy provides an immediately transparent income situation.
For a long-term investor, the combination of ongoing rental cash flow, potential long-term rental development, and potential appreciation of the Hamburg residential location may also be of interest. Any future rental development should always be considered in light of applicable tenancy law, of the tenancy agreement and the specific comparable rents.
Overall, this is an already comprehensively modernized, rented condominium in a manageable residential complex with an attractive long-term investment profile—a property for which both the current return and the future development of the location and housing supply can be taken into account in the investment decision.
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The property is located in Eidelstedt, an established and at the same time dynamically developing district in the borough of Eimsbüttel in the west of Hamburg. The district is characterized by its good infrastructure, established residential structure, and excellent transport connections, offering attractive conditions for both owner-occupiers and capital investors.
For everyday needs, numerous shopping and supply options are available in the immediate vicinity. Supermarkets, shops for daily necessities, and other services can be reached quickly and conveniently. The education and childcare offering is also comprehensive: daycare centers as well as all types of schools are located nearby and can be reached within a few minutes.
A particular location advantage is the very good connection to local public transport. Various bus lines as well as the AKN and S-Bahn ensure a fast connection to Hamburg’s city center and the surrounding districts. The Hamburg district of Altona, for example, can be reached in about 10 minutes by S-Bahn, while Hamburg Central Station can be reached in around 20 minutes.
Eidelstedt also offers an excellent starting point for private transport. Due to its proximity to the Hamburg-Nordwest motorway interchange, there are fast connections to the A7 and A23 motorways. This makes both Hamburg’s city center and the surrounding area and destinations further afield comfortably accessible.
Eidelstedt thus combines the advantages of an urban residential location with excellent transport infrastructure and short distances to shopping facilities, educational institutions, and places of work. The combination of good accessibility, established infrastructure, and ongoing development makes the district an interesting and sustainably sought-after residential location within Hamburg.
199.000 € Provisionsfrei & bezugsfrei: 1,5-Zimmer-Wohnung mit Balkon22525 Hamburg
199.000 € Provisionsfrei & bezugsfrei: 1,5-Zimmer-Wohnung mit Balkon22525 Hamburg– Stellingen
539.000 € 4-room maisonette with balcony & parking space | 5.6% yield | Quiet courtyard location in HH22525 Hamburg– Stellingen
