For sale by owner, no commission. 7-family house. Investment property. Multi-family house.

An exceptional multi-family building, constructed with solid materials, comprises seven apartments in a terraced house style, offering approximately 384 square meters of rentable space. It is situated on a well-maintained and enclosed plot of 1,269 square meters in the Tungendorf district of Neumünster. Balconies and outbuildings further expand the living and usable space to approximately 474 square meters. The building is fully occupied and boasts a very satisfied tenant base with clear lease agreements and a sense of community. The apartments vary in size and each has its own separate, covered entrance. The multi-family building was constructed in 1950, and in 1969, permission was granted to change the use of one apartment, which had previously been used as a row of shops. The exterior grounds, with their fencing and electric sliding gate, provide a secure and private environment for the tenants. In addition, the well-maintained property includes various storage buildings, a solid detached garage, a carport, and parking spaces. It is worth noting that the largest unit could easily be considered a detached house with 110 square meters, 5 rooms, and its own corner plot. The living space extends over multiple levels and offers plenty of room. A fireplace not only creates a cozy atmosphere but also helps to save on costs. The heating for the individual units is provided by separate gas boilers, each located within the apartments. Hot water is primarily produced by the heating system, with the exception of two apartments that use a water heater. The net rental income per year currently amounts to €45,720, with a tendency to increase, plus operating costs. This represents a yield of 6.57%.

Heating, electricity, and water costs are billed directly to the tenants by the utility providers. The gas boilers are mostly Junkers models, with one Vaillant model, and are from the late 1990s.

A draft of a property division declaration (according to German law) is available and can be implemented at any time. Overview of individual apartments:

Apartment 1:
Ground floor, 2 rooms, 46m², kitchen, bathroom, hallway, gas boiler, separate entrance.
€440 rent + €70 operating costs. Heating and electricity are billed directly.
Apartment 2:
Ground floor, 2 rooms, 47m², kitchen, bathroom, hallway, gas boiler, separate entrance.
€420 rent + €70 operating costs. Heating and electricity are billed directly.
Apartment 3:
First floor, 2 rooms, 49m², kitchen, bathroom, hallway, gas boiler, separate entrance. Entrance Fee:
€430 per month + €75 service charge. Heating and electricity are billed separately. Apartment 4:
Ground floor, 1 room, 32m², kitchen, bathroom, hallway, gas heating, separate entrance.
€340 per month + €50 service charge. Heating and electricity are billed separately. Apartment 5:
Ground floor, 2 rooms, 46m², kitchen, bathroom, hallway, gas heating, separate entrance.
€420 per month + €70 service charge. Heating and electricity are billed separately. Apartment 6:
First floor, 2.5 rooms, 54m², kitchen, bathroom, hallway, gas heating, separate entrance.
€510 per month + €100 service charge. Heating and electricity are billed separately. Apartment 7:
Ground floor + first floor, 5 rooms, 110m², kitchen, bathroom, hallway, gas heating, fireplace,
share of the property, separate entrance, parking space for a car.
€1250 per month + €160 service charge. Heating and electricity are billed separately. Graduated rent agreement: €1492.57 per month until 01.09.2031.

The promising property is located in Neumünster, specifically in the Tungendorf district, one of the most popular areas of the city.
Tungendorf is a charming and livable district in the north of Neumünster, situated in the heart of Schleswig-Holstein. This district offers excellent infrastructure, with all the amenities for daily needs, including kindergartens, schools, doctors, pharmacies, banks, and leisure activities, as well as good access to highways and public transportation.
Tungendorf is bordered by:
- Kieler Straße to the west
- Preetzer Landstraße to the north
- the Dosenbek stream to the east
- the (disused) railway line between Neumünster and Ascheberg to the south.
Approximately 11,700 people live in Neumünster / Tungendorf.
The following schools are located here:
- Rudolf-Tonner-Schule (primary school)
- Pestalozzi-Schule (primary, secondary, and comprehensive school)