The property
This is an investment apartment with a tenant already in place. The lease began on 1 March 2022 and is open-ended. The tenant pays €460 net cold rent per month plus €190 towards operating costs, so €650 in total. The monthly service charge paid by the owner to the building is €325, part of which is normally passed on to the tenant through the operating costs.
The legal structure needs attention. Building and land have been held under a hereditary building right (Erbbaurecht) since 1972, a 99-year leasehold that ends in 2071. The buyer acquires the apartment, not the land. The ground rent for the whole term was paid in advance, so no further ground rent is due. The fixed end date affects long-term value and how banks assess financing, and this is reflected in the asking price.
The apartment has 50.3 m² of living space and 2 rooms. It sits on the 16th floor of a 1974 tower with 167 units, reached by lift. A loggia adds outdoor space at that height, and a parking space is included.
Inside, the apartment has not been renovated and is let in that state. The bathroom is tiled. Windows are PVC, only partly double-glazed. Heating and hot water come from district heating. The energy rating is class F, typical for concrete buildings of this era. The building is described as well kept, with a flat roof and an exposed-aggregate concrete façade.
- Tenanted since March 2022
- €460 net cold rent monthly
- Ground rent fully prepaid
- Leasehold running until 2071
- Loggia on the 16th floor
- Lift and parking space
- District heating
Key facts
| Type | Apartment |
|---|
| Town | Cologne, Meschenich |
|---|
| Federal state | North Rhine-Westphalia |
|---|
| Postcode | 50997 |
|---|
| Living area | 50.3 m² |
|---|
| Rooms | 2 |
|---|
| Floor | 16th floor |
|---|
| Year of construction | 1974 |
|---|
| Status | already let |
|---|
| Features | balcony or terrace, lift, parking space |
|---|
| Energy efficiency class | F |
|---|
| Energy demand | 174 kWh/(m²·a) |
|---|
| Energy source | district heating |
|---|
| Reference | 7157p |
|---|
The location
Meschenich is a district on the southern edge of Cologne, in the Rodenkirchen borough, roughly 10 km from the city centre and bordering the town of Brühl. It began as a village and is still surrounded by open farmland. Alongside the older village core it contains large residential towers from the 1970s, which make up much of its housing.
Cologne is the largest city in North Rhine-Westphalia and has one of the biggest universities in Germany, which keeps demand for small rental apartments steady across the city.
Who it suits. It suits an investor seeking rental income in Cologne at a lower entry price who accepts a leasehold ending in 2071 and an unrenovated interior.
More properties in Cologne →
Information on your right of withdrawal
Cancellation policy
If a brokerage contract is concluded, consumers have the following right of withdrawal:
Right of withdrawal
You have the right to withdraw from this brokerage contract within fourteen days without giving any reason.
The withdrawal period will expire after fourteen days from the day of the conclusion of the contract.
To exercise the right of withdrawal, you must inform us (L&B Immobiliya EuRuS GmbH, Frankfurter Allee 18, 10247 Berlin, Tel.: +49 30 762 149 75, E-Mail: info@immobiliya.com) of your decision to withdraw from this contract by an unequivocal statement (e.g. a letter sent by post or an email). You may use the attached model withdrawal form, but it is not obligatory.
To meet the withdrawal deadline, it is sufficient for you to send your communication concerning your exercise of the right of withdrawal before the withdrawal period has expired.
Effects of withdrawal
If you withdraw from this contract, we shall reimburse to you all payments received from you, including the costs of delivery (with the exception of the supplementary costs resulting from your choice of a type of delivery other than the least expensive type of standard delivery offered by us), without undue delay and in any event not later than fourteen days from the day on which we are informed about your decision to withdraw from this contract. We will carry out such reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of such reimbursement.
If you requested to begin the performance of services during the withdrawal period, you shall pay us an amount which is in proportion to what has been provided until you have communicated to us your withdrawal from this contract, in comparison with the full coverage of the contract.
End of cancellation policy
German original
Widerrufsbelehrung
Im Falle eines zustande kommenden Maklervertrages haben Verbraucher das folgende Widerrufsrecht:
Widerrufsrecht
Sie haben das Recht, binnen vierzehn Tagen ohne Angabe von Gründen den Maklervertrag zu widerrufen.
Die Widerrufsfrist beträgt vierzehn Tage ab dem Tag des Vertragsabschlusses.
Um Ihr Widerrufsrecht auszuüben, müssen Sie uns (L&B Immobiliya EuRuS GmbH, Frankfurter Allee 18, 10247 Berlin, Tel.: +49 30 762 149 75, E-Mail: info@immobiliya.com) mittels einer eindeutigen Erklärung (z. B. ein mit der Post versandter Brief oder eine E-Mail) über Ihren Entschluss, diesen Vertrag zu widerrufen, informieren. Sie können dafür das beigefügte Muster-Widerrufsformular verwenden, das jedoch nicht vorgeschrieben ist.
Zur Wahrung der Widerrufsfrist reicht es aus, dass Sie die Mitteilung über die Ausübung des Widerrufsrechts vor Ablauf der Widerrufsfrist absenden.
Folgen des Widerrufs
Wenn Sie diesen Vertrag widerrufen, haben wir Ihnen alle Zahlungen, die wir von Ihnen erhalten haben, einschließlich der Lieferkosten (mit Ausnahme der zusätzlichen Kosten, die sich daraus ergeben, dass Sie eine andere Art der Lieferung als die von uns angebotene, günstigste Standardlieferung gewählt haben), unverzüglich und spätestens binnen vierzehn Tagen ab dem Tag zurückzuzahlen, an dem die Mitteilung über Ihren Widerruf dieses Vertrags bei uns eingegangen ist. Für diese Rückzahlung verwenden wir dasselbe Zahlungsmittel, das Sie bei der ursprünglichen Transaktion eingesetzt haben, es sei denn, mit Ihnen wurde ausdrücklich etwas anderes vereinbart; in keinem Fall werden Ihnen wegen dieser Rückzahlung Entgelte berechnet.
Haben Sie verlangt, dass die Dienstleistungen während der Widerrufsfrist beginnen soll, so haben Sie uns einen angemessenen Betrag zu zahlen, der dem Anteil der bis zu dem Zeitpunkt, zu dem Sie uns von der Ausübung des Widerrufsrechts hinsichtlich dieses Vertrags unterrichten, bereits erbrachten Dienstleistungen im Vergleich zum Gesamtumfang der im Vertrag vorgesehenen Dienstleistungen entspricht.
Ende der Widerrufsbelehrung
