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Apartment building, 4 units, sizes ranging from 47 to 104 square meters, 1 commercial unit up to 150 square meters, located in Weststadt, Reutlingen.

72762 Reutlingen – Baden-Württemberg
705.000 €
13
Room
295 m²
Living Area
208 m²
Plot Area
Private offer
House
Multi-family house

The multi-family house offered, situated on a 208 m² plot, comprises 4 residential units and 1 commercial unit. It is a fully basemented building with 3 above-ground floors and an attic that has been converted for living space, including a usable loft area. The building was constructed in 1951. A portion of the basement, approximately 1905, was built as a vaulted cellar. The property features a high land utilization, with a total of 398 m² of living and commercial space. Its solid construction, central location, and high demand make this property, with its potential for modernization, a realistic investment opportunity with a competitive entry price. The commercial unit on the ground floor, currently used as a business premises and measuring 103 m², includes a dining area, a side room, storage, men's, women's, and staff restrooms, and 4 rooms in the basement. A rooftop terrace of approximately 17 m² is attached to the garage. The 4 apartments in the building range in size from 47 to 104 m². The commercial unit, previously used as a pub, has a size of approximately 150 m² (ground floor and part of the basement), including ancillary rooms. On the 1st floor, there is an apartment of 104 m², comprising 5 rooms, a kitchen, bathroom, toilet, storage room, and hallway. On the 2nd floor, there is a 2-room apartment of 47 m², with a kitchen, shower, toilet, storage room, and hallway, as well as a 3-room apartment of 60 m², with a kitchen, toilet/shower, and hallway. The apartment in the attic has a living area of 85 m² and includes 3 rooms, a combined living/kitchen area, bathroom, toilet, and hallway. It has potential for further expansion in the loft area.

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Object Number
OM-450223
Object Class
House
Object Type
Multi-family house
Is occupied
Vacant
Handover from
Immediately

Purchase price & additional costs

purchase price
705.000 €
Purchase additional costs
approx. 44,417 €
Total costs
approx. 749,416 €

Breakdown of Costs

Purchase price 705.000 €
Real estate transfer tax 35,250 € (5.00%)
Notary costs 6,069 € (0.86%)
Land register entry 3,098 € (0.44%)
Broker commission 0€ (0%)

* 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: 2,632€

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Based on equity 20% of the purchase price plus the purchase incidental costs / 10 years fixed interest rate / 2% initial repayment / Effective interest rate 3.60%

Details

Condition
In need of renovation
Number of floors
4
Usable area
293 m²
Bathrooms (number)
2
Number of garages
1
Flooring
Laminate, Carpet, Tiles, Vinyl / PVC
Heating
Oven heating
Year of construction
1951
Equipment
Basement, Full bath, Shower bath
Infrastructure
Pharmacy, Grocery discount, General practitioner, Kindergarten, Primary school, Secondary school, Middle school, High school, Comprehensive school, Public transport

Information on equipment

The building was previously heated by a combination of individual gas heaters and, in some cases, central heating systems for entire floors. It is now necessary to equip the building with a new heating system. One possibility is to connect it to the district heating network operated by FairNetz GmbH.

The plumbing, electrical systems, some of the flooring, and doors in the house also require renovation.

It is conceivable to convert the ground floor into one or two apartments, to divide the first floor into two apartments, and to combine the two apartments on the second floor into a 5-room apartment.

The property is particularly suitable for revitalization to a basic to moderate standard. There is also strong demand in the neighborhood for the property to be divided into individual ownership units, especially from young families and long-term residents.

Because the property is currently rent-free, a short-term, comprehensive revitalization project would be very efficient in terms of time and cost.

Several government funding programs are available to help finance the modernization and conversion into up to 7 residential units.

Location

Location within the city of Reutlingen:
The property is located in the western part of Reutlingen, in a very well-connected area. Reutlingen's market square is just 1.1 km away. The Bosch factory facilities are within walking distance, approximately 10 minutes away. All general education schools can be reached on foot within 10 minutes. The university campus, located 2.5 km away, is accessible by bicycle in about 12 minutes. The nearest bus stop for the city's public transportation system, as well as the train station for local and regional trains, are both within a 2-minute walk. The bus stops are served by several bus lines of the city's public transportation system, and by local and regional trains. The train station will also serve as a stop for the currently under-construction regional city railway, the Neckar-Alb. Characteristics of the surrounding area:
According to the land use plan of the Reutlingen-Tübingen neighborhood association, the area where the property is located is primarily designated for residential use. The neighborhood is predominantly built with buildings ranging from 3 to 4 stories in height. Tübingen Street is a major thoroughfare within the city, with bicycle lanes on both sides and a parking lane on one side.

Location Check

Shopping
Nature
Sports
Public Transport
Health
Eating Out
Culture
Child Friendliness
Nightlife

Energy

Energy efficiency class
F
Energy certificate type
Demand certificate
Main energy source
Gas
Final energy demand
188.80 kWh/(m²a)

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Miscellaneous

Public Facilities:

All the necessary offices and everyday amenities are available in Reutlingen. All levels of schooling are located in the town, as is a university with 5 faculties and 47 degree programs.

Macro-Location:

Th­e macro-location of the property can be considered excellent due to its location in the city center of Reutlingen. The existing infrastructure, combined with the companies located there, offers high productivity with moderate unemployment. In addition to the economic aspects, Reutlingen offers a high quality of life and recreational opportunities due to its proximity to the Swabian Alps and the state capital, Stuttgart.

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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