Engel & Völkers
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Well-kept apartment building with a spacious plot of land

€1,700,000
  • 821 m² Total surface
  • 821 m² Living area
  • 678 m² Plot surface

Description

The property is an apartment building built around 1899 with ten apartments spread over five full floors in the front building. The property is accessed via a staircase and is visually in a well-kept, technically rather simple condition. Numerous old building details, such as the decorative stucco façade, doors typical of the period and corresponding ceiling heights, are present and lend the property its old building charm. The fully let residential units are heated by gas central heating, while the hot water supply is decentralized via instantaneous water heaters. Plastic insulated glass windows are predominantly installed. In 2018, the facades were renovated, the roof was repaired, the heating system was switched from oil to gas central heating with a new gas condensing boiler and plastic insulated glass windows were installed. The stairwell was also repainted. The condition of the pipework requires renovation in the medium term. Moisture damage has already occurred in some apartments due to the ageing pipes. A preliminary building application for a rear building with nine residential units and a gross floor area of approx. 450 sqm has been approved for the rear part of the property. There is also potential added value from an attic conversion. The property lies within the scope of the "Luisenstadt" milieu protection area. "Luisenstadt" conservation area Much sought-after residential area Quiet residential street Stucco facade with French balconies Well-kept to simple condition Four gross cold rent contracts Plastic insulated glass windows Attic not developed Fully let Average residential rent: 4.71 EUR/sqm 6640

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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Wohn- und Geschäftshäuser

Property ID: OI-BER-6640

Property details

Property type

Investment

Total surface

821 m²

Living area

821 m²

Plot surface

678 m²

Target return

2.73163352941176 %

Energy efficiency information

Construction year

1899

Energy efficiency class

energy class icon

Energy certificate available

Yes

Energy certificate type

Energy Consumption Certifiate

Location: Schmargendorf, Berlin

The Kreuzberg district has long been internationally renowned for its quality of life and the wide and varied range of restaurants, bars, activities and cultural venues. The Wrangel-Kiez, originally the Schlesisches Viertel, is itself surrounded by water on three sides and is also home to Görlitzer Park, which is known for its wide range of leisure activities. In the neighboring "Markthalle Neun", one of the last historic halls of its kind in Berlin, Kreuzbergers meet and enjoy the wide range of international food on offer. The riverside paths of the Paul-Lincke-Ufer are just a few minutes' walk away, inviting you to linger and take a relaxing stroll. Transport connections are guaranteed both for cars via Bundestraße 96 and by public transport such as the "Görlitzer Bahnhof" subway station.

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Engel & Völkers Commercial Berlin

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License partner of Engel & Völkers Commercial GmbH

Commission details

The brokerage fee of 7.14% of the purchase price including VAT is payable by the buyer.

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