Apartment building with potential: rental yield and modernization!

Apartment building with potential: rental yield and modernization!

There is currently an interesting apartment building in Cologne that offers a lot of potential to anyone looking for a profitable investment. The building, which today has a total of around 214 m² of living space and a plot size of around 154 m², was built around 75 years ago in a solid construction. The owner has already applied for an energy certificate, but there is currently no valid one. Like the experts from Energy consulting knowledge However, this is required by law for apartment buildings and must be presented at the latest when selling or renting.

The apartment building offers special usage options - be it as a family home, for several generations or even for a combination of living and working. The empty ground floor space is just waiting to be used creatively, while the upper and attic apartments have already been rented out for around two years and generate annual rental income of around EUR 11,760. The garden area is easy to maintain and can be designed individually, which further increases the appeal of the property.

Energy certificate and legal requirements

The energy certificate, which is currently being processed, must be presented in accordance with the requirements of the Building Energy Act (GEG). This applies not only to sales, but also to new rentals. There are two types of energy certificates: the consumption-oriented certificate and the demand-oriented certificate. The latter is necessary for a new building or extensive renovations, while the consumption certificate is based on the real energy consumption of the last three years, according to the consumption center. It is imperative for potential buyers and renters to have access to this information to make an informed decision.

An energy certificate is valid for ten years and must then be renewed. There are support options available for energy-efficient renovations, including KfW and BAFA programs, some of which offer attractive funding. Those interested should also consider creating an individual renovation roadmap (iSFP) in order to receive further funding for implementation.

Modernizations and future opportunities

The apartment building has been well maintained over the years: for example, the roof was replaced in 1985 and extensive insulation and new windows were installed. In recent years there have also been improvements to the rear facade. Despite the modernizations that have already been carried out, craftsmanship and commitment can continue to flow into future projects.

With the vacancy on the ground floor and the possibility of generating further rental income, the property is definitely attractive for investors and owner-occupiers who value sustainable use. The 75% basement also offers plenty of storage space and room for ideas, which is an advantage when competing for rental properties.

In summary, this apartment building in Cologne can not only offer a home, but also represents an excellent opportunity for investors. With the right approach and the necessary energy certificate, this property will certainly be able to meet the high demands of tenants.