Historic Charm With Rooftop Terrace In Lübeck

Charming multi-family house with commercial units in the old town of Lübeck

This historic multi-family house on the old town island of the Hanseatic city of Lübeck offers a rare opportunity for investors and owner-occupiers. Built around 1900 and listed as a historic monument, the building impresses with its historic charm and classic wooden floorboards, offering both residential and commercial spaces with great development potential.

Property details

- Total area: approx. 489 m²
- Residential: approx. 370 m²
- Commercial: approx. 119 m²
- Basement: approx. 100 m²

Current rental situation:

NOTE: The property can be delivered vacant if needed!

The rental agreements with tenants are positive, and rent payments are reliable and punctual.

Net rental income: €2,255/month
- Two commercial units: €1,450
- Two occupied residential units (116.59 m²): €805

Ground floor: Two commercial units including a betting office (the only licensed one in the old town) and a popular café. The tenant has fitted out these spaces.
Residential unit 1: Rented to elderly tenants.
Residential unit 2: Vacant (with red carpet).
Residential unit 3: Rented to middle-aged tenants.
Residential unit 4: Vacant.
Residential unit 5: Attic with roof terrace. Vacant; the roof terrace is a rare feature as new permits in the old town are no longer granted.

Special features & potential

- In need of renovation: Three of five residential units (totaling 253.41 m²) are available for refurbishment, some with wooden floorboards. Subject to approval, funding of about 40-45% of renovation costs is possible through energy-efficient refurbishment. Additional grants may be available through historic preservation depending on the measures required.

- Declaration of division (TE) available: An extremely rare feature that allows the sale of individual condominiums. No new declarations of division are issued in Lübeck’s old town!

- Roof terrace: Located in the heart of the old town, a roof terrace is approved, giving the attic apartment (vacant) a fantastic living experience.

- Unique location: Demand for condominiums in Lübeck’s old town is high, while supply is almost non-existent.

- Attractive commercial units: Existing commercial rentals provide stable income.

This property offers an exceptional investment opportunity with enormous value appreciation potential for subdividers, project developers, investors, and owner-occupiers alike in one of Lübeck’s most sought-after locations.