Apartment building in a popular residential area of Berlin, Germany

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Apartment building in a popular residential area of Berlin, Germany

1,575,000 €
2,599 € /m²
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  • Total area
    606 m²
  • Yield
    3.7%
  • Rental rate (m²/month)
    8 €
  • Built in 
    1900
Details
Property parameters
  • Leasable area: 606 m²
  • Land area: 485 m²
  • Total apartments: 15
  • 4-floor building
Financial performance
  • Annual income: 58,150 €
Tenants
  • Occupancy: 95 %
Property status
  • Most recent total renovation: 2011
Transaction costs
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.0%
  • Broker: 6.0% + VAT

Four-story apartment building located near the lake.

Description

The apartment building includes 15 apartments with a total area of ​​606 m². Apartments range from 21 to 65 m².

There is a garden in the back yard of the building.

With the exception of two flats with Gamat gas heaters, the building is heated by a gas central heating system.

The property was comprehensively renovated in 2011. Over the course of these renovations, all water pipes were refurbished, along with the electrical wiring and the staircase, the facades were restored, the windows were replaced. In 2017, the roof and the beams in the basement were reconditioned.

With the exception of three flats, all the units were comprehensively refurbished, including the bathrooms and kitchens. One unit is currently vacant and is being renovated.

As a result of these measures, the property is in good overall condition.

Financial performance

The absolute annual income is 58,150 €.

The current yield is 3.7%.

The expected annual income is 61,678 €.

The expected yield is 3.9%.

The expected yield is achieved by renting out a vacant apartment and a parking space.

Transaction costs

Notary (state registration) is 1.5 – 2%.

Acquisition tax is 6%.

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

Location

The prperty is located in a popular residential area of Berlin, near the lake and park. The historic center, the Jewish cemetery, numerous parks, shopping centers and shops and all the main infrastructural facilities are located nearby.

The area has good public transport connections. Berlin city center can be reached in 15 minutes by tram.

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.

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.

  • Property on the map
    Location right down to the building, street or city

Tranio helps to manage property after purchase

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

The terms and conditions of our engagement depend on the condition and location of the property and are to be discussed in each particular case.

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
3.7%
8—10%
Investment budget
1,575,000 €
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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