Solid investment opportunity: rented apartment (with a stepped rental agreement), no commission fees.

This well-maintained apartment on the top floor is being sold commission-free as a solid, profitable, and value-retaining investment property. It has been reliably rented since 2019 after many years of owner occupancy. The existing lease agreement (escalating rent contract) ensures predictable and increasing rental income. The apartment is located in a very well-maintained residential complex with good construction quality, situated on a large plot of land. It features a south-facing balcony with a wide awning. The flooring throughout the living areas and hallway has been newly installed with a consistent multilayer oak finish in the "Nature LHD" style, and is bordered by HH-profile skirting boards. The apartment includes a dry storage room with 24 m2 of usable space. The residential complex is primarily occupied by owners. The wall thickness of the masonry is 42 cm, which minimizes heat loss through the exterior walls. The energy efficiency of the complex is in good condition. There is no need for energy-related renovations (--> energy class D). There is no backlog of repairs; costly measures and potential special assessments are not anticipated. Necessary measures have been carried out. The reserve fund amounts to €230,000 (share for the apartment). = €5,635) and provide a good buffer for maintenance costs. Information for investors:
Purchase price: €429,000 (approximately €4,612 per square meter)
Year built: 1972
Living area: 93 square meters
Annual net cold rent: €15,720
Gross yield: 3.7%
Total service charges: €296 (of which €202 are pass-through costs)
Potential for rent increases: €420 per year (escalation clause in the lease agreement)
Income from garage/parking space rental: approximately €450 per year
Reserve fund of the property owners' association (WEG): €230,000; of which approximately €5,630 is allocated to the owner.
Land size: 6,646 square meters; of which the apartment's share is approximately 160 square meters.
Maintenance and improvements carried out:
1986: Windows replaced
2001: Flat roof replaced
2004: New oil heating system installed
2010: Facade renovated (cleaned, some brickwork replaced, building joints renewed, walls partially treated with a hydrophobic coating)
New stainless steel roofing installed on the canopies of 6 entrances.
Balcony renovation (interior). Balcony floors tiled.
Property enclosed with a fence, garden gate replaced.
Walls at the garage entrance covered with stainless steel panels.
Walls under the pergola shortened, edges covered with stainless steel panels.
Pumps in the drainage system replaced; drains at the external cellar stairs replaced.
Entrance door system of a house replaced; doorbell system replaced.
Refuse container enclosures replaced (7 units) for waste separation.
Bicycle racks replaced with stainless steel supports (13 units).
In 2022, all fixtures on the water pipes in the cellar area were replaced.
In 2022, all valves and hydraulic balancing devices on the hot water pipes were replaced.
In 2025, painting work on the balconies (street-facing side).
In 2024, tightness testing of all drainage pipes in the cellar floor.
In 2025, repair of defective wastewater pipes; tightness confirmed.
The apartment is being sold exclusively as an investment property. It is reliably tenanted.

The apartment is located in a high-end residential complex consisting of 6 interconnected houses, built in a staggered arrangement, on a large plot of land. The street where the complex is situated is a quiet zone with limited traffic.

The nearby Niendorfer Gehege nature reserve and the meadows along the Kollau hiking trail offer opportunities for walks and other activities. The Hagenbeck Zoo is also close by. Public transportation is available via two bus lines that connect to the U-Bahn (subway) station Hagenbek. The A7 motorway access in Stellingen is very close. The A7 motorway runs under the "Stellinger Deckel" (a covered section of the motorway).

Two shopping centers (Eidelstedt and Niendorf/Tibarg) are located nearby.