From private owner: MFH with 20 units and 10 garages (individual land registers)

A high-yield apartment building with a total of 20 rental units as well as 10 garages and 3 outdoor parking spaces is for sale. The property was built in 1968 in solid red-brick construction on a plot of approx. 2,100 sqm and is in extremely well-kept condition. Ongoing maintenance has been carried out by the owners (new entrance doors, new electrical system, conversion to decentralized water heating, new water supply, etc.).

The house has a total of three separate entrances and extends over two full floors and an attic. There is also a commercial unit that is currently operated as a kiosk. The total of 10 garages are fully let, as are the outdoor parking spaces.

A particular added value of this property is that all units, including the garages, are divided into individual land registers. This means that it would potentially be possible to sell each unit individually, thus offering further scope for development in terms of value.
The property's mezzanine units are particularly attractive and therefore in high demand. They each have an individual right of use for garden areas facing south-west.

The building has a full basement, so that the three units are connected underground and all rental units have a separate storage room. In addition, the entire unit has attics that offer further potential for expansion. The energy supply (gas central heating) is provided by individual gas heating systems for each building entrance.

The annual net cold rent for all units (including garages and parking spaces) is approx. € 108,000 with a total rentable area of 1,140 sqm. There is considerable potential for rent increases for various rental units in the event of a change of tenant.

The layout at a glance:

Entrance 1:
- Ground floor: two apartments (approx. 52 & approx. 62 sqm) with balcony and garden use
- 1st floor: two apartments (approx. 52 & approx. 62 sqm) with balcony
- Top floor: one apartment (approx. 55 sqm) & two attic rooms plus shower room (declared as one unit, approx. 34 sqm)
- One commercial unit (approx. 65 sqm)
- Attic (expansion potential)

Entrance 2:
- Ground floor: three apartments (2 x approx. 55 & 65 sqm) with balcony and garden use
- 1st floor: three apartments (approx. 34, 55 & 68 sqm) with balcony
- DG: two apartments (approx. 49 & 50 sqm)
- Top floor (expansion potential)

Entrance 3:
- Ground floor: two apartments (approx. 65 & 68 sqm) with balcony and garden use
- 1st floor: two apartments (approx. 65 & 68 sqm) with balcony
- DG: one apartment (approx. 80 sqm) with balcony
- Top floor (expansion potential)

The very well-kept inner courtyard area with its beautiful green space, well-tended flower beds and a small garden shed not only gives this property an inviting appearance, but also serves as a meeting place for the residents of the house.

This apartment building is being sold directly by the owner without any further brokerage fees.

This well-kept apartment building is located in a quiet, family-friendly district of Kiel-Neumühlen-Dietrichsdorf. The neighbouring development is mainly characterized by smaller apartment buildings as well as terraced, semi-detached and detached houses.

The public transport connections are very good, with bus stops at "Ivensring" or "Strohredder" within walking distance. You can do your daily shopping at "Langer Rehm" or "Schönkirchener Straße". In addition to drugstores, pharmacies and supermarkets, there are also various discount stores and doctors specializing in different fields.

The nearby Kiel University of Applied Sciences is also making this district increasingly attractive to younger people, enhancing the value of the entire east bank and further reducing the risk of vacancies in rental apartments.

The beautiful beaches and marinas of the neighboring communities of Mönkeberg, Heikendorf and Laboe can be reached within a few minutes by public transport or by car and offer many opportunities for water sports or simply relaxing walks in the summer and autumn months.