Apartment building with commercial unit in the central district of Berlin, Germany

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Apartment building with commercial unit in the central district of Berlin, Germany

2,500,000 €
2,510 € /m²
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  • Total area
    996 m²
  • Yield
    3.0%
  • Built in 
    1918
Details
Property parameters
  • Land area: 517 m²
  • Total apartments: 11
  • 7-floor building
Financial performance
  • Annual income: 74,556 €
Tenants
  • Fully let
Transaction costs
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.5%
  • Broker: 6.0% + VAT

Apartment building near the Nauner-Platz metro station.

Description

The apartment building includes 11 apartments with a total area of 910 m² and 1 commercial space on the ground floor with an area of 86 m².

The simple exterior facade belies the historic architectural elements that can be found inside the property (lathed wooden bannisters and entrance doors in the stairwell, hardwood floors, etc.).

The flats have been successively renovated upon tenant change.

The property is heated by an oil-fired central heating system which is located in the adjacent building.

The attic floor has not been converted for residential use and offers possible development potential.

The building is constantly maintained in good condition.

Tenants

Fully let.

The tenant of the commercial space is a travel agency. The lease agreement is valid until October 2024.

Location and nearby infrastructure

The property is located in the center of Berlin, in one of the most popular residential areas of Wedding, which has good transport connection with both the western and eastern parts of the city. The development mainly consists of historic Wilhelminian-era buildings with courtyard buildings, interspersed with multi-storey social housing constructed in the 1970s and 1980s.

There are a lot of shopping options and recreational facilities in the area, which also attracts consumers from other districts.

There are also a number of public buildings near the property, such as

Beuth University of Applied Sciences, the Wedding City Hall and the Rudolf Virchow University Hospital of the Charité,

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.

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    Marina Filichkina
    Marina Filichkina,
    Head of Sales
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