Multi-family house in a central location in the city center of Detmold - An attractive investment property.

Located in a central residential area of Detmold, this multi-family building, which is fully let, presents an attractive investment opportunity with significant potential for long-term growth. Emilienstraße offers a city-center location with excellent access to public transportation, as well as convenient proximity to shops, schools, medical facilities, and the Detmold train station. The historic old town, restaurants, and cultural attractions are all within easy walking distance, contributing to a consistently desirable residential location.

Built in 1955, the multi-family building comprises four rented apartments with a total living area of approximately 290 square meters. The apartments consist of three nearly identical 3-room apartments, each with approximately 77 square meters of living space, located on the ground floor and upper floors, and a 3-room apartment of approximately 59 square meters located in the attic. The property also includes a basement area of approximately 75 square meters. The plot of land has an area of approximately 146 square meters. There are no parking spaces or garages on the property. All apartments are currently rented and are individually heated by gas-fired central heating systems. The current monthly base rent (net cold rent) is a total of €1,150.82, which equates to an annual base rent of €13,809.84. The building is generally in a solid structural condition, consistent with its age. In recent years, maintenance work has primarily been carried out as needed. From today's perspective, there is an increased need for modernization and maintenance. In particular, energy-efficient renovation measures have not yet been implemented. At the same time, this presents investors with the opportunity to significantly increase both the building standard and its long-term profitability through targeted modernization. The property also offers development potential in terms of revenue. The current rents are below the level that can be sustainably achieved according to the local rental guidelines. A market-appropriate base rent of approximately €5.85 per square meter is considered achievable for the apartments on the ground floor up to the 2nd floor, and around €6.00 per square meter for the attic apartment. Therefore, there is potential for rent adjustments within the legal framework. The combination of a desirable, centrally located residential area, full occupancy, and existing potential for value and rent increases makes this multi-family building an attractive investment opportunity for capital investors who see the existing need for modernization as an opportunity for the sustainable development of the property.