Apartment building with two commercial spaces on the ground floor.
Description
The apartment building includes 33 renovated apartments with a total area of 2,107 m² and two commercial spaces with a total area of 244 m².
As a result of overhaul in 1992, the attic floor was converted into a residential space. Wiring was replaced, walls were repainted, ceilings and floors were repaired, architectural elements of the building were restored.
Facade, balconies and drains are currently being renovated. In addition, one flat is currently undergoing renovation and will be rented after completion of the extensive work.
The absolute annual income is 346,567 €.
The current yield is 3.3%.
The expected annual income is 358,330 €.
The expected yield is 3,4%.
Notary (state registration) is 1.5 – 2%.
Acquisition tax is 6%.
The brokerage fee is 6% + 19% VAT (in total 7.14%).
The property is located on one of the most popular and lively streets of the Kreuzberg district in Berlin.
There are restaurants, cafes, a supermarket, bars and clubs, bus stops and a metro station nearby. The Gerlitzer Park, the Spree Embankment and the Landwehr Canal are in a walking distance.
The center of Berlin can be reached in 10 minutes.
Berlin is the capital of Germany with the population more than 3.9 million people.
Within EU Berlin is one of the cities with the highest business activity. About 80% of companies in Berlin work in the services sector. 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)
2 airports of Berlin — Tegel and Schönefeld — serve more than 40 million passengers a year.
Today Berlin is a world cultural center and one of the most visited cities on the continent. The annual number of tourists exceeds 30 million people.
