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Multi-family building with 22 apartments and a storage room, located in the heart of Lüdenscheid.
58507 Lüdenscheid – Nordrhein-WestfalenFor sale is an exceptional property located in the heart of Lüdenscheid, distinguished by its central location, historical architecture, and significant development potential. This impressive building offers a wide range of possible uses, making it a highly profitable investment opportunity. The property is ideal for investors who wish to combine a historical structure with the possibility of unlocking additional return potential through modernization efforts.
Are you interested in this house?
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Object Number
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OM-452402
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Object Class
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House
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Object Type
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Multi-family house
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Is occupied
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Occupied
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Handover from
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Immediately
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Purchase price & additional costs
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purchase price
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859.500 €
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Purchase additional costs
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approx. 66,601 €
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Total costs
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approx. 926,101 €
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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: 3,215€
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Details
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Condition
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In need of renovation
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Monument protection object
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Yes
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Number of floors
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3
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Usable area
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120 m²
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Bathrooms (number)
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24
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Number of parking lots
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2
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Flooring
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Laminate, Carpet, 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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1901
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Equipment
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Balcony, Basement
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Infrastructure
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Pharmacy, Grocery discount, General practitioner, Kindergarten, Primary school, Secondary school, Middle school, High school, Comprehensive school, Public transport
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Information on equipment
The historical building comprises 22 residential units, divided into 18 apartments ranging in size from 18 to 35 square meters, and 4 larger apartments ranging from 70 to 110 square meters. The listed facade gives the property a unique charm, while the interior offers potential for comprehensive modernization to further enhance its attractiveness and rental yield. The property is currently mostly occupied, and targeted modernization and renovation work can unlock its full economic potential. For example, the net annual cold rent income, currently around €77,000, could be increased to up to €100,000.
Breakdown of residential units:
Ground floor:
• Right side: 4 rented apartments (each 18–35 m²), equipped with a bathroom (shower), hallway, and living/sleeping area with a kitchenette. Apartment No. 4 was recently completely renovated, including new triple-glazed plastic windows and modern fixtures.
• Left side: 3 residential units, each with a bathroom, small kitchen, and hallway. These units offer further potential for improvement through renovations. •Exterior: An area previously used as a bakery has been converted into a spacious apartment, featuring a large living/sleeping area, a hallway, and a modern bathroom (shower and toilet).
•First Floor:
•Right Side: A spacious apartment of approximately 110 m², featuring a balcony, a guest toilet with shower, a second bathroom with bathtub, a bedroom with en-suite bathroom, a large kitchen, a hallway, and two additional rooms. This unit is particularly attractive for family rentals or as a representative apartment.
•Center: A spacious apartment with a hallway, private bathroom (shower), living/sleeping area, and a small kitchen.
•Left Side: 4 rented apartments, with layouts similar to the units on the ground floor.
•Second Floor: Identical layout as on the first floor. The apartments and studios offer further possibilities for individual design due to the high ceilings and flexible layouts.
•Third Floor:
•Left Side: Apartment of approximately 70 m², with a kitchen, living/sleeping area, a separate bedroom, and a bathroom with a bathtub. This apartment is ideal for couples or small families. • Right side: A spacious living unit with four rooms, a kitchen, a hallway, and two bathrooms (one with a bathtub, the other with a shower). It could also be used as a shared living space. Basement and additional utility areas:
• Boiler room: The property has a modern, high-efficiency gas boiler installed in 2021, which provides efficient energy supply. • Shared laundry room: A central laundry room is available for all tenants. • Cellar rooms: Four storage rooms are available for the larger apartments, as well as a large room of approximately 130 m², which was formerly used as a bakery. This room can be converted into an additional living unit or repurposed for commercial use.
Location
Lüdenscheid, known as a "mountain town," is the economic and cultural center of the Märkischer Kreis in North Rhine-Westphalia. The city combines a long history with a forward-looking approach. The city center boasts a diverse mix of historic buildings, modern shops, and cultural institutions. Its proximity to the Sauerland region and its good connections to the Ruhr area make Lüdenscheid an attractive location for both residents and investors.
The property itself is located in the heart of the city, just 50 meters from the train station and in close proximity to the town hall square. This central location offers not only excellent access to public transportation, but also a variety of shops, restaurants, cafes, and cultural institutions within walking distance. The central location guarantees high demand for housing and offers diverse opportunities for rental to different target groups, from students to business travelers.
Location Check
Energy
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Main energy source
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Gas
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Miscellaneous
This property offers numerous development opportunities:
• Long-term rentals: The current rental situation demonstrates strong interest in the location. Renovations can lead to higher rents and make the property even more attractive.
• Short-term rentals (Airbnb): The proximity to attractions and business districts makes this property particularly appealing to tourists and business travelers.
• Student housing: The proximity to universities and educational institutions makes the building ideal for student rentals.
• Assisted living or care facility: The large number of small units and the central location would be ideal for assisted living. Only a few renovations would be required.
• Commercial use: The basement, along with the flexible layout, allows for the creation of office, medical, or storage spaces.
• Accommodation for temporary workers: This property offers an attractive option for tradespeople and companies that need temporary accommodation for their employees.
Energy efficiency and historical preservation:
• Energy performance certificate: The primary energy demand is 165.6 kWh/m², which meets the requirements for older buildings. Modernizations can further improve energy efficiency. • Listed building status: The facade is a listed building, which provides special tax advantages for modernization measures, particularly in terms of increased depreciation possibilities. Financial Highlights
• Current annual net cold rent: approximately €77,000 per year. • Potential for rent increases: Through targeted modernization, the rent can be increased to up to €100,000 per year. • Additional income: The expansion of the large basement or the rental of parking spaces in the courtyard could generate further rental income. • Funding opportunities: The property is eligible for various funding programs, including KfW loans for energy-efficient renovations, which facilitates the financing of modernization projects. Tax advantages and funding opportunities
The renovation of the listed building not only increases its value but also provides tax advantages through increased depreciation possibilities. KfW funding programs and other government support offer additional incentives for investors planning sustainable renovation projects. Summary:
This unique property, located in the heart of Lüdenscheid, represents a rare opportunity to invest in a historic building with a variety of potential uses. Its central location, the numerous residential units, and the potential for investment improvements offer an attractive combination for investors. With the possibility of significant rent increases and additional revenue streams through redevelopment, this property offers a secure and profitable investment for the future.
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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Offer from: Orfali
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