Apartment building 646 m² in Pankow

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

One apartmntent is vacant.

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.

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 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.