Apartment building with a 7.7% return – fully rented

Key facts

Purchase price & costs

About this house

For sale is a fully rented multi-family house in Mönchengladbach-Odenkirchen (41199).

The property, built around 1906, has approx. 200 m² of living space on a plot of approx. 404 m² and offers an interesting opportunity for investors.

The multi-family house comprises three residential units. The ground-floor area is spatially divided into two separately rented living areas. This currently results in a total of four separate tenancy agreements and corresponding rental income.

LAYOUT:

Ground floor – Living area 1, approx. 45 m²
• 1 room
• Kitchen
• Bathroom

Ground floor – Living area 2 / maisonette, approx. 55 m²
• 2 rooms
• Kitchen
• Bathroom

1st upper floor – approx. 50 m²
2 rooms
Kitchen
Bathroom
2nd upper floor – approx. 50 m²
2 rooms
Kitchen
Bathroom

In addition, the attic contains an area of approx. 25 m², offering further potential for conversion or use. A possible expansion of the living space is subject to review, pending the required permits.

RENTAL INCOME:

The current total monthly net cold rent is €1,985.

Annual net cold rent: €23,820

At a purchase price of €309,000, this corresponds to an actual gross rental yield of approx. 7.7%.

One of the long-standing tenancies has additional potential for rent increases within the scope permitted by law, due to the currently comparatively low rent.

The property will be handed over fully rented.

The sale is made directly by the owner and is commission-free for the buyer.

Further information and documents concerning the property and the existing tenancies can be provided to seriously interested buyers. Viewings are possible by prior appointment.

Fittings and features, as described

• approx. 200 m² of living space
• approx. 404 m² plot
• 3 residential units
• currently 4 separate tenancy agreements
• fully rented
• Garden
• Cellar
• Gas heating
• approx. 25 m² of additional attic space with further potential
• Annual net cold rent €23,820
• Commission-free private sale

The building is in a condition appropriate to its age and is partly in need of renovation, offering opportunities for further modernization and appreciation in value.

An energy performance certificate is available and can be viewed during the inspection.

Location

Location details

The property is located in Mönchengladbach-Odenkirchen (41199).

Odenkirchen is an established district of Mönchengladbach with good infrastructure. Shopping facilities, schools, kindergartens, doctors, and other amenities for daily needs are located in the immediate vicinity.

There is access to local public transport. The surrounding districts as well as the regional and interregional road network are also easily accessible.

The rear garden area offers residents additional opportunities for relaxation and use.