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Multi-family house with potential for rent increases and future development.
25337 Elmshorn – Schleswig-HolsteinFor sale is a partially modernized multi-family house with a stable and growing rental structure, located on Rethfelder Straße in Elmshorn, very close to the vocational school.
The property comprises four residential units, as well as two garages and one parking space, and has been modernized in several key areas in recent years.
Of particular note are the rent increases already contractually agreed upon until 2035, as well as an approved development reserve in the adjacent building, which offers additional potential for appreciation.
The sale is being handled directly by the owner, without any agent fees.
Key Facts:
• 4 residential units
• 2 garages + 1 parking space
• Annual gross cold rent: €33,600
• Purchase price: €645,000
• Factor: approximately 19.2
• Contractually agreed rent increases until 2035
• Approved development reserve
Potential Figures:
• Additional rent: approximately €450 per month
• Additional annual gross cold rent: €5,400
• Potential annual gross cold rent: €39,120
• Factor including development: approximately 16.5
Are you interested in this offer?
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Object Number
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OM-439032
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Object Class
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Apartment building or investment property
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Object Type
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Apartment building
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Handover from
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By arrangement
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Purchase price & additional costs
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purchase price
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645.000 €
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Purchase additional costs
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approx. 50,105 €
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Total costs
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approx. 695,105 €
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Breakdown of Costs
* Costs for notary and land register were calculated based on the fee schedule for notaries. Assumed was the notarization of the purchase at the stated purchase price and a land charge in the amount of 80% of the purchase price. Further costs may be incurred due to activities such as land charge cancellation, notary escrow account, etc. Details of notary and land registry costs
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Estimated monthly rate: 2,399€
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Details
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Condition
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Modernized
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Year of last modernization
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2023
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Number of floors
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1
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Level
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1st floor
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Total area
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300 m²
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Other areas
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60 m²
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Number of garages
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2
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Number of parking lots
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1
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Net rental income (target) p.a.
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39120 €
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Net rental income (actual) p.a.
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33600 €
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X-times rental income
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19.20
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Number of units
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4
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Flooring
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Parquet, Laminate, Tiles, Vinyl / PVC
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Heating
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Central heating
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Year of construction
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1900
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Equipment
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Balcony, Terrace, Garden, Basement, Full bath, Shower bath, Fitted kitchen
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Infrastructure
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Pharmacy, Grocery discount, General practitioner, Kindergarten, Public transport
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Information on equipment
Rental Structure
Monthly Rent | Annual Rent
Apartment 1: €450 | €5,400
Apartment 2: €760 | €9,120
Apartment 4: €830 | €9,960
Apartment 5: €660 | €7,920
Garages / Parking Spaces: €80 | €960
Total Annual Rental Income: €33,600
Rental Structure & Contractually Guaranteed Rent Increases
The property features a stable and dynamically growing rental structure, as several units already have contractually agreed-upon rent increases.
This allows for a predictable increase in income without the need for re-renting or additional investments.
Modernizations
Significant improvements have been made in recent years:
Apartments
* New bathrooms
* New kitchens
* New plumbing
* Complete electrical renovation in 2 apartments
* New flooring (click vinyl / parquet)
Building
* Roof renovated and insulated
* Heating system replaced in 2023 (gas)
Location
The property is located on Rethfelder Straße in Elmshorn, a well-established residential area in the Hamburg metropolitan region.
Elmshorn offers:
• Excellent transport links to Hamburg
• Strong demand in the residential rental market
• Well-developed infrastructure
The location is particularly suitable for long-term rentals in the mid-price range.
Location Check
Energy
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Final energy consumption
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187.30 kWh/(m²a)
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Energy efficiency class
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F
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Energy certificate type
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Consumption certificate
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Main energy source
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Gas
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Miscellaneous
Overall Rental Development
Year | Annual Rent (EUR)
------- | --------
2026 | 33,720
2027 | 34,560
2028 | 35,160
2029 | 35,760
2030 | 36,360
2031 | 36,840
2032 | 37,320
2033 | 37,800
2034 | 38,280
2035 | 38,760
Factor Development
Scenario | Factor
Current Situation | 19.2
Rent in 2030 | 17.7
Rent in 2035 | 16.6
Development Potential – Expansion Reserve
On the property, there is an outbuilding (shed) in the exclusive ownership of the property being sold, for which a building permit already exists for its expansion into an additional residential unit (approximately 30 m²).
Potential:
• Rent: approximately 450 € per month
• Additional annual rent: 5,400 €
• Estimated construction costs: approximately 30,000 €
Factor Development Including Expansion
Scenario | Factor
Including Expansion | 16.5
2035 Including Expansion | 14.6
Broker inquiries not welcome! According to § 7 UWG, unsolicited contact by brokers without the express consent of the recipient is prohibited!
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