Well-maintained Multi-family House with Garden Views in Rheine

A 6-party multi-family house with potential is for sale in Rheine. Built in 1962, the property is well maintained and necessary measures have been taken to preserve the building. In principle, the fabric of the building is to be classified as worthy of preservation and corresponds to the construction standard of the 1960s and offers corresponding potential for value appreciation through possible energy-efficient renovations. Nevertheless, the building can still be let in its current condition. The property with a size of approx. 1,510 m² is developed with a total of 2 apartment buildings. The intention is to sell the first part of the building complex. A total rentable area of approx. 384,210 m² is available here. A corresponding declaration of completion has been approved and drawn up. With a total of 6 residential units and 21 rooms, the apartments are spread over 3 floors. There is one 4-room apartment and one 3-room apartment on each floor. All apartments have their own balcony, the first floor apartments also have a terrace with a wonderful view of the well-kept garden and the green surroundings. The top floor offers two large attic rooms with plenty of storage space. There is also the possibility of creating another apartment here and further exploiting the potential of the property. One apartment on the 1st floor is currently vacant and offers the ideal opportunity for modernization and subsequent re-letting. The annual rental income is currently around €18,667 and can be increased to €26,832 by directly adjusting the rent and renting out the vacant residential unit. Approval to extend the attic could certainly be discussed with the city of Rheine. The building also has a spacious basement. The apartments on the first floor and second floor each have their own cellar room, while the apartments on the second floor have two cellar rooms. There is also a laundry room and a bicycle cellar in the communal cellar. A single garage and public parking spaces on the street are also available for tenants. The spacious communal garden offers space to relax and rounds off the appealing overall appearance of the property. Overall, the property represents an attractive investment opportunity. Take advantage of this opportunity and contact us for more information or to arrange a viewing.