Apartment house in 34466 Wolfhagen, Germany

Apartment building for sale, in 34466 Wolfhagen (30 minutes from Kassel).
Land area - 532 m2;
The total area of the house is approximately 882 m2;
Renovated and rented - 411.53 m2;
The building consists of 3 wings and 3 floors:

Wing in the middle - apartment (2 levels, 3 rooms) and attic that can be made into an apartment.

Right wing - 3 residential apartments (two-room apartment, five-room apartment on 2 levels, seven-room apartment on 3 levels) and 1 apartment that needs to be completely renovated (it is possible to create a two-room apartment or 2 studios).

The left wing is currently in an uninhabited condition (renovation, replacement of windows, etc. are required) and is now used as both storage and garage.

There is a large parking lot in front of the house.

Repair work completed:

New heating and water supply system (pipes, boiler, chimney, etc.);

Partially renewed electrics (completely new main switchboard, meters, electrical appliances) installed in 2023 - New heating and water supply system

Partially renewed electrical system (completely new main switchboard, meters, electrical appliances) installed in 2023;

Overlap and insulation of the roof on 2 of three wings of the building;

All radiators were completely replaced; Sanitary elements replaced

Cosmetic renovations were carried out in all apartments and kitchens were installed.

4 apartments renovated and rented

Income from 4 apartments - 3750 euros/month. Cold, (4725 euros / month warm)

Income per year 45,000 euros (9% per year)

Potential for room expansion / further renovation and handover of apartments:

The attic of the central wing has provisional approval for conversion into a residential building (approx. 87.5 m2);

According to the documents, the apartment on the first floor of the right wing is a residential building and requires repairs amounting to 15,000 to 20,000 euros (approx. 73.54 m2);

The entire left wing (open floor plan, up to 300 m2) requires approval for conversion;

In addition, the areas in 2 residential wings and apartment floor plans are calculated. (upon request)

There is the possibility of receiving city grants of up to 60,000 euros for renovation work on the building.