Apartment building, Tempelhof-Schöneberg, Berlin, Germany

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Apartment building, Tempelhof-Schöneberg, Berlin, Germany

6,800,000 €
3,586 € /m²
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  • Total area
    1,896 m²
  • Yield
    3.2%
  • Built in 
    1900
Details
Property parameters
  • Total apartments: 22
Financial performance
  • Annual income: 226,000 €
Tenants
  • Fully let
Property status
  • Most recent total renovation: 2018
Transaction costs
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.0%
  • Broker: 6.0% + VAT

Apartment building with commercial spaces.

Description

Apartment building, including 22 flats of 1,631 m² and two commercial spaces of 256 m².

There is a permit to build an additional 520 m² of living space by the extension of the attic and the side wing of the building.

In 2017/18, the building underwent major repairs, 75% of the apartments were completely renovated, the building is in excellent condition.

  • Share Deal — purchase price is € 5,800,000
  • Asset Deal — purchase price is € 6,800,000

Financial performance

Absolute annual income: 226,000 €.

Current yield: 3.2%.

Tenants

Commercial spaces are leased to a dental office and a shop selling drinks.

Transaction costs

Notary (state registration) is 1.5 – 2%.

Acquisition tax is 6.0%.

Brokerage fee is 6% + 19% VAT (in total 7.14%).

Location and nearby infrastructure

The property is located in the central district of the 7th borough of Berlin — Mariendorf, having a harmoniously developed infrastructure, near a bus stop, shops, bars and restaurants. In this area there are six elementary schools, the Eckener Gymnasium and the Hermann Köhl High School.

Tempelhof-Schöneberg is the 7th administrative borough of Berlin. The population of the area is more than 330,000 people.

Berlin is the capital of Germany with the population more than 3.9 million people. Within the eurozone, Berlin is one of the cities with the highest business activity. Several large corporations, such as Siemens, Volkswagen, Pfizer, and SAP, have headquarters in Berlin. In 2017 Berlin's GDP grew in real terms by 3.1% compared to the previous year and for the 3rd time in a row, it was more than 3%. In the national comparison, Berlin took the 2nd place and significantly exceeded the average growth of 2.2% in Germany. In 2017 the salaries of the middle-level employees in Berlin averaged more than 3,260 euros per month. The average gross monthly income increased by 2.7% compared to the previous year.

  • Unemployment rate — 9.0% (2017)
  • Consumer price index — 111.4 (2017)
  • GDP — 136 billion euros (2017)
  • About 80% of companies in Berlin work in the services sector.
  • 2 airports of Berlin — Tegel and Schönefeld — serve more than 40 million passengers a year.

  • Property on the map
    Location right down to the building, street or city
  • Other properties
    Other offers nearby

Tranio helps to manage property after purchase

Our local team at Tranio in Germany will take up property management or recommend professional German partners.

Find out more
  • icon Property maintenance and insurance
  • icon Search for tenants, contracting, and control over rent collection
  • icon Arrangements for bookkeeping and tax advice

Сonstruction loan as an alternative to commercial property investment

Developers with a good track record that give warranties or procure a record in the land register.

There is no need to incorporate a legal entity or open an account in Germany.

No extra charges to maintain or operate the property.

Comparing a apartment building purchase with a construction loan

Investment vehicle
Apartment building
Construction loan
Yield per annum
3.2%
8—10%
Investment budget
6,800,000 €
from 300,000 €
Buying expenses
10—15%?
  • 1 – 1,5 % — lawyer
  • 2,3 – 3,2 % — notary and state registration
  • 3,5 % – 6,5 % — acquisition tax
  • 3-6% + VAT — broker's fee

Percentage of the property value

0—2%?

The expenses on an independent legal review of the project

Investment term
from 5 years
to 3 years
Risk level
Low
Moderate
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