Building for sale in Duisburg, Germany

Property Description: The building is a residential and commercial property with 5 apartments and former bank rooms. It spans over 4 floors, is basemented, and has a total of 574 m² of living space and 2,967 m² of usable space. In addition, it has an underground garage with 25 parking spaces and 15 outdoor parking spaces. The building was built in 1983. Heating is provided by district heating, which was modernized in 2007. The equipment on the ground floor mostly still corresponds to the original use. The construction costs of the building were above average, however, the structural condition is rated as average. There are areas with deferred maintenance as well as renovation and modernization needs. A large part of the building is purpose-built with individual floor plans and limited usability for other purposes, especially on the ground floor. The apartments are supposed to be vacant, but at the time of the valuation, they were not yet cleared and partly still furnished (office furniture, IT systems, kitchen equipment, pictures). In addition, deregistered vehicles, unidentified goods on pallets, and machines were found (which cannot be considered as accessories). Price Thoughts: The listed price for this property is €2,540,000. However, there is an opportunity to secure a 30% discount on the market value, bringing the price down to €1,778,000. This discount also includes waived notary fees and agent commission, making it a potentially attractive investment opportunity. It's important to note the potential renovation and modernization needs of the property, which should be factored into the overall cost. The property's unique layout and history as a former bank offer potential for creative redevelopment opportunities.