Apartment building with residential annex, Berlin, Germany

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Apartment building with residential annex, Berlin, Germany

2,050,000 €
3,173 € /m²
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  • Total area
    646 m²
  • Yield
    3.3%
  • Rental rate (m²/month)
    9 €
  • Built in 
    1900
Details
Property parameters
  • Leasable area: 646 m²
  • Land area: 591 m²
  • Total apartments: 11
  • 4-floor building
Financial performance
  • Annual income: 67,136 €
Tenants
  • Occupancy: 90%
Property status
  • Most recent total renovation: 2000
Transaction costs
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.0%
  • Broker: 6.0% + VAT

A four-story historic building with a two-story residential annex and a garden in one of the central districts of Berlin.

Description

The apartment building and the annexe include 11 apartments with a total area of ​​646 m². Apartment sizes vary from 32 to 113 m².

One apartment is in the process of repair.

It is possible to convert the attic into residential area, permission has not yet been received.

The historic building was almost completely renovated between 1996 and 2000. The facade, roof, electrical wiring, stairways were repaired and windows were replaced during renovation. Also 6 of 8 apartments of the front buidling were completely renovated.

The annex has been completely renovated and converted into three mini lofts.

The property is constantly maintained in very good condition.

Energy performance certificate:

  • main energy source: gas
  • consumption value: 144 kWh/ m²a
  • valid until 20.09.2028

Financial performance

The absolute annual income is 67,136 €.

The current yield is 3,3%.

The expected annual income is 74,744 €.

The expected yield is 3,6%.

The expected yield is achieved by renting out the vacant apartment and increasing the rental rate for four apartments by August 2019.

Tenants

One apartmntent is vacant.

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 and nearby infrastructure

The property is located in the central district of the northeastern part of Berlin. This is a popular residential area with many parks, a lake, the historic center of the city and shopping centers.

There are various shops, a playground, an educational institution, a dry-cleaner and a gym located nearby.

Good transport accessibility: Alexanderplatz can be reached in 10 minutes by tram, Friedrichstraße — in 12 minutes and Hackescher Markt — in 15 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.

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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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.

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