7.5% Return: 8 rented parking spaces in a basement garage in Cologne, Westhoven | INVESTMENT: €478 per month.

For sale is a package of 8 rented parking spaces located in the Westhoven residential park in Cologne-Westhoven. The package includes 5 parking spaces in the North garage, accessible via Oberstraße, and 3 parking spaces in the South garage, accessible via Ziegeleiweg. All parking spaces are fully rented and currently generate a total gross monthly rent of €478, equivalent to €5,736 per year. With a purchase price of €76,480, this offers an attractive initial gross rental yield of approximately 7.5%. This offering is particularly suitable for investors seeking a reliable and straightforward income stream with minimal administrative overhead. The existing rental agreements are structured as gross rents, meaning that no utility bills need to be calculated and provided to the tenants. Some of these rental agreements have been in place for over 20 years. The current service charge (Hausgeld) is approximately €25 per parking space per month. This includes a reserve contribution of approximately €8 per parking space. Based on previous accounting records, the ongoing management costs are only approximately €14 to €15 per parking space per month. Extensive renovation work has already been carried out in the garage facilities. The final construction phase is planned for June/July; the costs associated with this have already been paid to the homeowners' association by the seller. Furthermore, from the seller's perspective, there is further potential for increasing rental income, particularly through future new leases, and potentially beyond, depending on the specific contractual arrangements. The parking spaces are not located in a traditional underground garage, but in a spacious garage complex at ground level. This makes the complex feel more open and less cramped than many conventional underground garages. The property is being sold privately, without commission. I would be happy to provide further documentation regarding rental income, homeowners' association fees, the financial plan, and the homeowners' association documents to serious interested parties.

The parking spaces are located in the Westhoven residential complex in the Westhoven district of Cologne, directly adjacent to Oberstraße, Nikolausstraße, and Ziegeleiweg. The residential complex was built between 1973 and 1975 and comprises 25 buildings with 6 to 16 floors, 573 apartments, 6 commercial units, and approximately 550 parking spaces for cars.

The location is attractive for parking rentals: the residential complex borders the Westhovener Aue to the west, combining a quiet, green environment with good accessibility. The KVB (Cologne public transport) stop "Westhoven Berliner Str." is served by line 7; the Cologne Straße and connections to the city center and surrounding areas are also easily accessible.