| Type | Block of flats |
|---|---|
| Living area approx. | 450 m² |
| Rooms | 18 |
|---|
| Plot area | 1027 m² |
|---|---|
| Usable floor area | 116 m² |
| Purchase price | 450.000 € |
|---|---|
| Price per m² | 1,000.00 €/m² |
| Commission | 3,57% |
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More financing calculators and assumptionsIn a natural setting in Hemer-Ihmert, this apartment building built in 1966 offers an interesting starting point for investors and property developers. The property comprises six condominium units already registered in the land register, six garages and approx. 450 m² of total floor area on a plot of around 1,027 m².
Important note: The property requires a complete renovation. The future owner should therefore plan for extensive refurbishment. In particular, the building services, energy efficiency, bathrooms, interior fit-out, fixtures and fittings, and—where structurally and legally possible—the floor plans can be redesigned.
Each of the six apartments has three rooms, a kitchen, a bathroom and a hallway. A wall has already been removed in one unit, creating an open-plan living area. The existing layout provides a versatile basis for further planning.
Depending on the concept, the apartments can be developed and rented individually, or individual units can be combined. Subject to the necessary approvals, this could also create larger living areas, for example for families or multigenerational households.
Investors have several options: from extensive refurbishment followed by rental, to the phased development of individual units, to considering the possibility of selling the units individually at a later date. A combination of owner-occupation and rental may also be considered.
The six existing garages complement the residential units and can be assigned to the apartments or rented separately, depending on the intended use.
The plot of around 1,027 m² (partly sloping) provides additional space for landscaping and outdoor areas. Whether further development opportunities exist should be clarified through a professional and building-law assessment.
Hemer-Ihmert combines a nature-oriented residential environment with access to surrounding urban areas and neighboring towns. The location therefore provides a basis for a range of residential and rental concepts.
Conclusion
Six condominium units, six garages, approx. 450 m² of floor area and around 1,027 m² of land form the basis for a property with development potential. The need for a complete renovation, which must be taken into account, also allows for a comprehensive redesign based on an individual concept.
A suitable opportunity for investors looking to renovate, would like to combine rental and long-term portfolio development.
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