Engel & Völkers

Residential and commercial building with vacancy in prime Prenzlauer Berg location

€5,000,000
  • 1,746 m² Total surface
  • 1,571 m² Living area
  • 633 m² Plot surface
  • 175 m² Rental Surface

Description

Built around 1885, the property consists of a front building with a quiet courtyard, a side wing and a rear building with a second courtyard. The 27 residential and two commercial units are accessed via three stairwells. The property is in a partially renovated state. Over the past 20 years, work has been carried out on the electrical and riser pipes, in the entrance area, on the roof and successively in the residential units. Two smaller empty units are currently being used by the owner as storage and are in need of renovation. The attic floor, which measures approx. 250-300 m², appears to be expandable in principle, but a building permit is not available. The units are heated by a gas-fired central heating system. The property is in good and solid condition. The striking façade gives the property a very special charm. Almost half of the apartments have a shower cubicle in the kitchen. Approximately 50% of the rental contracts have a maximum of between six and twelve months left to run, so the property offers further potential. Ensemble monument Very good residential complex Partially refurbished Gas central heating Neighbourhood protection Charming old building character Partly fixed-term tenancy agreements Average residential rent: EUR 8.44/m² Average shop rent: EUR 10.22/m² Attic appears to be expandable 46806

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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Wohn- und Geschäftshäuser

Property ID: OI-BER-46806

Property details

Object type

Investment

Total surface

1,746 m²

Living area

1,571 m²

Plot surface

633 m²

Rental Surface

175 m²

Target return

3.723564 %

Energy efficiency information

Construction year

1885

Energy certificate available

No

Location: Prenzlauer Berg, Berlin

The property is located in the popular residential area of Prenzlauer Berg, near Mauerpark and the Kulturbrauerei on the border with the Mitte district. In recent years, this part of the district has developed into a popular residential and business area. The central yet quiet location, within walking distance of Kollwitzplatz, Kastanienallee, Alexanderplatz and Hackescher Markt, explains the high demand for living space in this neighbourhood. The immediate surroundings are characterised by mostly renovated residential and commercial buildings in block perimeter development. Transport connections are well ensured both by car and by public transport. The U2 underground line and various tram lines can be reached on foot in about five minutes. There are plenty of shops for daily needs in the immediate vicinity.

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Your shop

Engel & Völkers Commercial Berlin

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Provider:

License partner of Engel & Völkers Commercial GmbH

Commission details

The commission of 7.14% of the purchase price incl. statutory VAT is to be paid by the buyer.

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