For sale by private individual! Factor of 13.9, with potential for even more! Multi-family house in Porta-Westfalica.

For sale is a fully occupied multi-family house located in a quiet area of Porta-Westfalica Costedt. The main building, dating from 1925, comprises 8 apartments spread over three floors, while the rear building offers two additional apartments. The rear building and the attic of the main building were constructed/renovated in the mid-1990s with public funding. The rent control will expire at the end of 2025. Currently, the property generates a net annual income of approximately €70,000, offering an attractive yield of 7.3% on the asking price. Upon purchase, a 12-month rent guarantee will be provided, in case the apartments are not fully occupied at that time. As can be seen from the rental statement, many apartments with rents below €7 per square meter still offer significant potential for growth. In the medium term, a target rental income of at least €82,000 per year is realistically achievable (equivalent to approximately 8.6% yield). In the 1990s, significant value-enhancing measures were implemented, including the installation of a new heating system with piping, window replacements, attic renovation, and the construction of the rear building. In recent years, various apartments have undergone renovations, such as bathroom upgrades, painting, and flooring work. The property offers a solid foundation, although some work may still be required in certain areas in the coming years. The land is still being surveyed, and the planned land division is shown in the floor plan available in the brochure.

Porta-Westfalica Costedt is idyllically situated on the Weser and is a popular residential area for families and singles. The city center of Porta-Westfalica can be reached in just a few minutes and all everyday facilities are available in the immediate vicinity.