Apartment for renting to students in a new residential complex in Berlin-Mitte.
The residential complex includes three buildings.
Apartments are rented in a medium-term lease for 6–12 months.
The construction was begun in spring 2017 and will be completed at the end of 2018. At the moment the project is almost completed.
The residential complex consists of 334 apartments ranging from 19 m² to 30 m².
The cost of apartments ranges from 124,000 € to 237,000 €.
Energy standard: EnEV 2016
Property of this type is sought-after for tenants. The owner gets long-term rent revenue for the low cost investment.
It is possible to purchase a package of several apartments.
- fitted kitchen
- heating floors
The complex may offer at residents' disposal: a laundry in the basement, storage cells and a parking for bicycles. The owners may use services of management company, which assumes responsibilities associated with searching for tenants, singing lease agreement, property maintenance, managing, tenant communications, insurance, renovation, etc.
The projected annual income after deducting costs for the management company is 5,023 €.
The projected yield of 4.1%.
Notary (state registration) is 1.5 – 2%.
Acquisition tax is 6.0%.
The brokerage fee is 5.9%.
The cost of ownership
The cost of the management company is 593 € per year.
Location and nearby infrastructure
The residential complex is located in the city center, in a 4-minute walk from the U-Bahn station. A supermarket, a pharmacy and many attractions of the city are located not far from the property.
There is the largest university clinic in Europe, Charité, as well as the Campus Charité Mitte nearby.
Distance to important sites:
- Humboldt University of Berlin — 3.5 km (5 U-Bahn stations)
- Charite Community Complex — 2.6 km (3 U-Bahn stations)
- Museum Island — 3 km
- Hackescher Markt — 3 km
- Alexanderplatz — 4 km
- Humboldt-Hahn National Park — 500 m
- Central railway station — 2.5 km
According to statistics, Berlin enjoyed one of the highest rent increases. In the first half of 2016, there was an increase of 7%. In addition, the influx of students in Berlin is constantly growing. As a result, there is a shortage of student apartments. Of about 200,000 students, only about 7% find a place in such a facility.