Building plot 2300m² for building project 3950m² gross area

Selling here my 2300m² property
with a MFH and a living space of 259m² .

Rental income approx. 4000 Euro per month (48.000,- per year).

The property will be sold via the forced auction on 14.12.2024 at Essen District Court.

There is an appraisal for the property from 2024 and also another appraisal from 2021 that is better.

The property will soon be changed to building land, as the city wants to build on the sports field there.
The land value according to Boris is 517,000 euros
For this reason, a reallocation procedure was imposed on the property by the city because they want to shift the boundaries slightly.
That's why the new reports state that some garages were not legally erected.
In principle, garages up to 30m² are free in NRW with a building permit !!!!
You can buy the whole thing and rent it out for about 4 years where you would have a rental income of about 200,000.
Then build there yourself as you can see in the new building project I wanted to build with 3360 living space and 3950 gross floor area. When renting for a retirement home or nursing home, you can rent the whole 3950 to such a company that deals in
retirement home or nursing home.
Then you can sell the property and the object with a profit of approx. 1 to 2 million plus the rental income of approx. 200,000.
Or they do not build there in 4 years, but sell the property to the city for approx. 800,000 plus the rental income of approx. 200,000 by then.
There is a lot of potential there.