High-yield multi-family building in Lübeck: fully let, with potential for further development.

The multi-family building at Warendorpstraße 51 in Lübeck-St. Lorenz Nord, constructed around 1905, presents an interesting opportunity for investors seeking a return on their investment. The property is fully rented, with no vacant units. The tenants are long-standing, reliable, and quiet. The building offers approximately 230 square meters of living space on a plot of approximately 180 square meters. It comprises 4 apartments, as well as an additional one-room area with a shower in the attic. The current annual gross rental income is €27,302. The asking price is €499,900. In the event of multiple serious purchase inquiries, the seller reserves the right to make a decision based on the most economically advantageous overall offer. A particularly noteworthy aspect is the existing development potential. The attic is suitable for expansion; connections for heating, electricity, and water are already in place. By creating additional living space, further revenue potential can be unlocked and the property value increased. Currently, there are no balconies. In the context of a future facade renovation with insulation, the addition of balconies could be considered. This would enhance the living quality and could potentially increase rental income. The costs associated with energy-efficient renovations can, under certain legal conditions, be partially passed on to the tenants. The basement is typical of the building's era and exhibits the usual signs of dampness common in buildings of this age. It is functionally usable and includes basement space, technical areas, and a laundry room. A small garden area is part of the property. The terrace area facing the street is used by the ground floor tenant for a fee. The building is not a listed building. According to information from the land charges register, there are no entries recorded in the register.

The property is located in a central area of Lübeck-St. Lorenz Nord. Warendorpstraße offers easy access to all essential amenities, making it very suitable for long-term rental potential.

Shopping options such as REWE, a gas station, schools, public transportation, the train station, and Lübeck's city center with its historic old town are all easily accessible. The property also has good access to the motorway, making the location attractive to both commuters and tenants seeking an urban lifestyle.

In addition, the location is expected to benefit from the planned development of the surrounding area through the new residential complex on Schwartauer Allee, on the former Nordfrost site. The planned "Schwartauer Allee Residential Complex" has the potential to further strengthen the area and increase the attractiveness of the location in the long term.