Fully leased residential and commercial building in sought-after residential area

€4,650,000
  • ~2,690 m² Total surface
  • ~2,456 m² Living area
  • ~1,249 m² Plot surface
  • ~242 m² Office surface

Description

The property is a mixed-use residential and commercial building, constructed around 1900, comprising a total of 34 flats and three commercial units. The units are spread across five full storeys and a converted attic, situated in a front building, a side wing and a detached garden house. All units are currently fully let. The property is accessed via four stairwells and, externally, is in a simple yet well-maintained condition. Period features such as the historic doors, double-hung wooden windows and the original stair railings have been preserved. The units are heated by a gas-fired central heating system, although a connection to district heating appears to be a possibility. The rear courtyard features a small green space with a children's playground, a bicycle parking area and a space for waste disposal. Given their sizes, ranging from approximately 46 to 148 m², the units are considered to be highly lettable. The top-floor flats each have a balcony. A planning application for an additional storey in the rear building is currently under review; this would involve the construction of six additional residential units. Should planning permission be granted, this would be included in the sale price. One stairwell was renovated last year; two further stairwells are due to be repainted in the near future. The property falls within the scope of a conservation order, the 'Kreuzberg-Nord' conservation area. Protected neighborhood "Kreuzberg-Nord". Sought-after residential area Simple but well-maintained overall condition Gas central heating Potential for additional stories in the rear courtyard Attic converted Fully leased Average residential rent: 6.13 EUR/sqm Average commercial rent: 8.80 EUR/sqm 152528
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-152528

Property details
  • Property type

    Investment

  • Total surface

    ~2,690 m²

  • Living area

    ~2,456 m²

  • Plot surface

    ~1,249 m²

  • Office surface

    ~242 m²

  • Usable surface

    ~2,699 m²

  • Target return

    4.44 %

Energy efficiency information
  • Construction year

    1900

  • Energy efficiency class

    D

  • Energy certificate available

    Yes

  • Energy certificate type

    Energy Consumption Certificate

  • Final Energy Consumption

    127.9 kWh/m²a

  • Energy source

    Gas heating

Location: Kreuzberg, Berlin

The property is centrally located in the Kreuzberg district. The well-known neighbourhood centred around Kottbusser Tor and Oranienstraße, with its numerous pubs, cafés and clubs, begins right on the doorstep. The nearby Böcklerpark, with its town hall, and the Kreuzberg outdoor swimming pool are within walking distance and are ideal places to relax. Public transport is also within walking distance, as are numerous shopping facilities.

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