Residential and commercial building with IBB commitment until June 30, 2025 and a positive preliminary building permit for attic conversion

The object for sale was built around 1900 as a pure front house. It has six residential units and one commercial unit. The property was extensively renovated in 2004 with IBB funds. The renovation work included the replacement of the wiring, new electrical risers, centralization of the electrical meters in the basement and the installation of a new gas central heating system in the attic. The historic wood double-hung windows were preserved and refurbished. The roof truss was also renewed, as well as the roof cladding. Due to the extensive work, the property is in an age-related, but technically good condition. Partial painting work is currently necessary, which will be partially carried out by the owners in the context of the sale. The property is subject to IBB post-commitment, which expires in 2025. The current rent levels reflect this circumstance. Demand for residential space in the location far exceeds supply, so new leases are taking place within a very short time. The commercial unit is leased on a long-term basis. The lease was renewed this year and runs until 31.05.2027 with an option until 2032. The annual net cold rent can increase due to the index lease, if the option is exercised, until 2032 to approximately 55,379, - EUR. The owners have submitted a preliminary building application for the expansion of the attic. The positive decision of approx. 194 m² GFA is supplied. Overall, it is a small, manageable object, which is ideal for long-term oriented capital investors. The property is located in the milieu protection area "Pankow Zentrum". "Pankow Center" environmental protection area Highly sought-after location in the 'Florakiez' neighborhood Well-maintained property Fully let Pure front building Attractive apartment sizes Well-lit property Historic wooden double box windows Extensively renovated in 2004 IBB follow-up ends on June 30, 2025 Preliminary building permit for attic conversion (approx. 194 m² GFA) Average residential rent: EUR7.59/m² Average commercial rent: EUR12.95/m² 139917