house for sale in Essen, Germany

Property Description: This 6-family duplex is located in a desirable neighborhood in Essen-Überruhr-Holthausen, providing easy access to local amenities, shopping and public transportation. For investors, the ground-floor apartment offers a high income potential with a current rental income of €1,000 and an ability to attract a tenant with an average income of 720€, giving a substantial income upside. The ground floor is also suitable for self-use, making it a versatile investment opportunity. The property was built in 1969 and offers a total living space of approximately 348 m², with a garden size of 485 m². It features 6 apartments with 3 verandahs, 4 garages, and excellent energy efficiency with an Energy Performance Certificate rating of E, valid until 2028. Major renovations have been carried out over recent years, improving the attractiveness and comfort of the property. All windows have been replaced with modern Iso Fensters and Kunststoffrollläden between 1990 and 2021, and all three verandahs were renovated and floored in 1999. Furthermore, all dachrinnen and fallrohre were replaced with copper in 2010, and the Bäderanlegung was renovated in 2010, 2016, and 2018, along with a new Gas-Zentral-Heizung, adding warmth and comfort to the entire property. The front facade was repaired with armature in 2021, further adding to the safety and aesthetic appeal. The property is separated into 104 m² on the ground floor, 65 m² and 53 m² on the 1st floor on both left and right sides, and 44 m² and 42 m² on the 2nd floor right and left. The souterrain has an area of 52 m². The property offers two basement apartments, achieving rental income of €36,060 EUR annually. ## Real Estate Investment Perspective The property presents an excellent investment opportunity due to its location in a popular neighborhood, combining high rental income potential and the potential for self-use. Additionally, the property benefits from a full renovation that incorporates energy-efficient features and a modern gas-central heating system. This attracts a pool of potential tenants seeking to rent properties with a high level of comfort and amenities for an affordable price. The asking price of EUR 880,000 seems competitive considering the rental income, numerous updates, and sought-after location. As a result, investors can expect good returns on their investment and steady income, making it a desirable and potentially profitable purchase. ## Lifestyle Purchase Perspective For those considering the property for self-use, the duplex offers a versatile living space with 6 apartments, providing ample room for an extended family or friends. With a total living space of 348 m², the property has good potential for dividing the space or creating separate living quarters, offering privacy and comfort. Moreover, the close proximity to local amenities and good transport links ensures easy access to shopping, leisure facilities, and workplaces. The property has a modern two-bedroom apartment on the ground floor, which offers attractive living spaces and contemporary comforts. Additionally, the property's energy-efficient features contribute to a reduced ecological footprint and lower utility costs, making it an environmentally friendly choice. Ultimately, this property offers a unique opportunity for those seeking a spacious and comfortable home in a desirable neighborhood, while also providing a good potential for rental income.