Fully Let Multi-Family Investment Property in Prime Essen-Altenendorf Location

€1.000.000

Description

Well-maintained, fully tenanted multi-family house with 8 residential units and 2 garages in a sought-after residential area of Essen-Altenendorf. This property combines solid construction quality, stable rental income, and an attractive location with sustainable value appreciation potential — an excellent opportunity for investors and long-term property owners.

Property Highlights:

Feature	Details
Property Type	Tenanted Multi-Family Investment House
Year Built	1973 / Core Renovation 2014
Living Space	486.98 m²
Plot Size	281 m²
Residential Units	8
Garages	2 (with separate street access gates)
Floors	4 (Ground Floor + Upper Floors + Attic)
Basement	Full basement
Garden	Spacious communal garden
Heating	Gas (individual gas boilers per unit)
Facade	Fully insulated
Ceilings	Reinforced concrete (excellent sound insulation)
Annual Net Cold Rent	€58,122.24
Current Yield	5.81%

Location & Infrastructure

The property is situated in the heart of Essen-Altenendorf — quiet yet central, with excellent infrastructure. Numerous shops, schools, medical practices, and public transport connections are within walking distance. Essen city center is only approximately 3 km away and easily accessible by bus, train, or bicycle.

Features & Potential

Solid construction with steel-reinforced concrete ceilings for durability and excellent sound insulation
Fully insulated facade for efficient energy consumption and comfortable indoor climate
Functional, well-designed apartment layouts — sustained demand in the rental market
Two separate garages with individual access gates — highly sought-after by tenants
Medium-term development potential for the garage spaces (not included in current yield calculation)
Spacious garden serving as a green oasis in an urban setting
Predominantly long-term tenancies with a stable rental situation
Lease agreements with legally permitted stepped rent (Staffelmiete) for predictable, stable rental income growth