House for sale in Chemnitz, Germany

From a buyer's perspective, this property is located in Chemnitz, Germany, and it is a four-story, eight-unit multifamily house with a total floor area of 380 square meters. It was built in 1899 and has a cellar, and there may be some refurbishment and modernization requirements, as well as water and heat supply connections that need to be addressed. There could also be organic growth, defects, and water damage that need to be addressed. As an investment, the property value is estimated at 59,000 euros. However, with a potential 30% discount, the purchasing price could be lowered to 41,300 euros. This includes savings on notary fees and real estate agent commissions. The property is being auctioned by the local court, and it is advertised in their monthly, cost-effective real estate auction catalog. For a lifestyle purchase, the property's location in Chemnitz might appeal to those who are looking for a historical and attractive building with potential for renovation and modernization. However, the presence of defects, organic growth, and water damage may require significant investment and effort to fix. Additionally, the lack of water and heat supply connections could pose additional challenges. Overall, the property has potential as an investment, but it would require significant effort, time, and financial resources to refurbish and modernize. It may not be the best choice for someone looking for a turnkey property or those who are not willing to invest time and money in renovations.