Investment property in the center of Pirmasens: Modernized 3-family house located in a redevelopment area, with a new roof.

Well-maintained multi-family building from 1911, located on a quiet side street in the heart of Pirmasens. Situated on a 360 m² plot, it offers 294 m² of living space, divided into three spacious, self-contained 4-room apartments. All units are currently let on long-term leases. ONGOING INVESTMENT
The roof has been recently replaced (approximately €50,000). The facade has been insulated and re-rendered on both the front and back, the staircase was renovated in 2013, and the electrical system has been largely renewed. All apartments have triple-glazed windows. A renovation plan from an energy consultant is available, outlining the next sensible steps. TAX ADVANTAGES
The property is located in the officially designated renovation area SAN20-B5 (simplified procedure, no balancing charge). Future renovations can be depreciated more easily. THE APARTMENTS
- Ground Floor (88 m²): 4 rooms, kitchen, bathroom, guest toilet, entrance hall. The bathroom was modernized in 2012 with a barrier-free shower.
- 1st Floor (107 m²): 4 rooms, kitchen, bathroom, guest toilet, dressing room, balcony. High-quality modernization with wooden and tiled floors, electric blinds, and underfloor heating in the bathroom.
- Attic (99 m²): 4 rooms, new kitchen, bathroom, guest toilet, entrance hall. Newly renovated. In addition, the property features a fully finished basement with storage rooms, a laundry room, and a utility room, offering direct access to the flat garden. The attic already contains 3 dormer rooms, offering potential for further development into an additional living space.

DETAILS:
- Purchase price: €319,000
- Current net cold rent: €22,800 per year (average €6.46/m²)
- Potential with an average of €7.50/m²: approximately €26,460 per year.
- Current/Potential gross yield: 7.2% / 8.4%
- Heating: Gas-fired central heating.
- Energy performance certificate: Newly created and available.
Commission-free, directly from the owner.
Rent statement, living space calculation, energy performance certificate, renovation plan, and other documents are available upon request.

LOCATION
Quiet side street in the city center. The pedestrian zone, shops, bus station, kindergarten, elementary school, secondary school, and grammar school are all within a few minutes' walk. The surrounding area is home to the Palatinate Forest Nature Park.