Multi-family building in Wuppertal-Elberfeld (Ölberg) | 10 units | Fully let | No commission fees.

Solid multi-family building in a sought-after location in Wuppertal-Elberfeld (Ölberg), comprising 10 units with stable occupancy. The current annual net cold rent is approximately €45,000. The compact 1- and 2-room apartments are very well rentable in this location. Sale directly from the owner and commission-free. The multi-family building was constructed in 1910 and has been continuously modernized over the years. The apartments consist mainly of compact 1- and 2-room units, which are very well rentable in this location. Demand for smaller apartments is consistently high in the Ölberg area, so new rentals typically happen quickly. The current annual net cold rent is €45,174. The building has generated stable rental income for many years and is particularly suitable for private investors looking for an established property with ongoing cash flow.

MODERNIZATIONS
The property has been continuously maintained and modernized over many years. It is a well-maintained older building from 1910, not a listed building, and therefore represents an established property, not a new development. Key improvements:
• Major renovation of important building components (plumbing, electrical systems, windows, bathrooms) in 1999.
• Dormer windows replaced (2014).
• Hallway renovated (2016).
• Ongoing renovations of individual apartments since 2015.
• Several bathroom renovations planned for 2025, with further renovations planned after tenant turnover.
• Attic currently being insulated.
The two commercial units have their own gas heating systems. Electric heating is primarily used in the apartments.
RENTAL
The units are let on long-term leases. Based on experience, the average tenant turnover is no more than one apartment per year. This means that when re-letting, there are regular opportunities to adjust rents to the current market level. In addition to cellar space, there are also additional storage rooms on the intermediate floors and in the attic.
CONCLUSION FOR INVESTORS
This is an established property in a good, central location. The building has been operating economically and reliably for many years, generating stable rental income. Investments are primarily made in conjunction with tenant turnover. For investors, this property offers a solid combination of current yield, good rental potential, and long-term stable demand.

The property is located on Ölberg in Wuppertal-Elberfeld, one of the most popular residential areas in the city center.

Ölberg is characterized by a vibrant mix of restaurants, shops, and cultural attractions. At the same time, it offers excellent connections to the Elberfeld city center.

Due to its central location and the prevalence of smaller apartments, there is consistently high demand from students, singles, and young professionals.