Apartment building 606 m² in Pankow

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.

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.

Notary (state registration) is 1.5 – 2%.

Acquisition tax is 6%.

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

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.