House for sale in Duisburg, Germany

As a potential buyer, this property description presents a mixed bag of opportunities and challenges. The property, located in Duisburg, Germany, is a Wohn- und Geschäftshaus with seven residential units and two connected commercial spaces. With three floors, a cellar, and an attic, the building offers a variety of living and commercial spaces. The residential units range from 51 to 89 square meters, while the commercial spaces range from 40 to 73 square meters. The total residential space is 400 square meters, and the commercial space is 113 square meters. The property was constructed in 1898 and has been largely neglected, with significant deferral in maintenance. Given the property's age and state of disrepair, potential buyers should be prepared for significant renovation costs. The asking price is 70.333€Kaufpreis, but the described condition of the property may lead to lower perceived value. However, the property's location in Duisburg, a busy industrial city with a population of over one million, could provide potential benefits for both residential and commercial renters/owners. For a real estate investment, the property's overall condition and specific needs should be carefully considered. While the potential rental income from both the residential and commercial spaces could be promising, the high renovation costs and unclear property usage regulations for commercial spaces could pose challenges. In terms of lifestyle purchases, this property might not be suitable for those looking for a turnkey solution or those seeking a property in pristine condition. However, for those who are willing to invest time and resources into renovation and are sophisticated in their real estate investment approach, this property might present an excellent opportunity. The asking price does have the potential to reduce significantly, considering the property's condition and registration at the court.