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Three buy-to-let apartments in Pankow, Berlin, Germany

1,200,000 €
3,478 € /m²
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  • Total area
    345 m²
  • Built in 
    1900
Details
Property parameters
  • Total premises: 10
  • 4-floor building

This beautiful old building is located in the Berlin district of Pankow as a corner development with four storeys. The building with its interesting clinker brick facade was completely refurbished in the 1980s. Approximately 75% of the flats in the building were completely refurbished and rented out. In the process, the part of the fresh water and sewage system running through the flat was always replaced as well. The common property was also partially renovated in 2013–2014. The measures on the common property included new electrical risers, new intercom system, renewal of the rubbish area, bicycle parking area, entrance areas, etc. On the ground floor there is a popular ice cream parlour, a stylish café for coffee and cake, and a charming corner shop. The building is located in the milieu protection area of Pankow-Zentrum. The tenants have a right of first refusal and a 10-year lock-up period. Furthermore, the tenants do not want to move out.

Three apartments include 10 rooms, 7 bedrooms, 3 bathrooms and 2 balconies.

Financial performance

Apartments are rented for 1724 euros per month.

Location and nearby infrastructure

The Florakiez has developed a very lively scene in recent years and is a sought-after residential location among young couples and families. The building is ideally located between two large historic parks, the Volkspark Schönholzer Heide and Schönhausen. Around 1900, Pankow was an upper-middle class district. After the Wall was built, the neighbourhood developed into the favourite district of the GDR oligarchy — partly because of its proximity to Schönhausen Palace, the residence of the GDR president, and partly because of the high density of embassies of the country's allies. Historically, the district has very good buildings and infrastructure. The S-Bahn and U-Bahn stations Pankow and Wollankstr. are only a few minutes' walk away, and several bus lines stop directly in front of the building. The neighbouring district of Prenzlauer Berg, the heart of the Berlin scene, is just a few minutes away and offers an almost endless range of leisure and cultural activities. Potsdamer Platz Oranienburgerstraße can be reached in 8–13 minutes by S-Bahn.

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If this ad doesn't suit you, have a look at the other block of flats for sale in Pankow.

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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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  • 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 units purchase with a construction loan

Investment vehicle
Apartment units
Construction loan
Yield per annum
2%-4.5%
8—10%
Investment budget
1,200,000 €
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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