Apartment building with commercial spaces.
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
Absolute annual income: 226,000 €.
Current yield: 3.2%.
Commercial spaces are leased to a dental office and a shop selling drinks.
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.