Fully let residential building in a quiet residential area

€1,950,000
  • ~1,506 m² Total surface
  • ~1,506 m² Living area
  • ~2,578 m² Plot surface
  • Construction year 1966

Description

The property is a block of flats built around 1966, comprising solely the front building with 20 flats spread over four full storeys. There are 18 car parking spaces in the courtyard. The property is accessed via two stairwells and is in a simple to sound condition, both technically and visually, which is typical for a building of its age. All flats have a balcony overlooking the quiet courtyard. The fully let units are heated by an oil-fired central heating system. Hot water is provided locally via instantaneous water heaters. The property has not undergone any major refurbishment since it was built. The pipework and electrical systems date from the year of construction. The flats are also of a basic standard. Some of the balconies show signs of damage caused by moisture ingress. The top floor has not been converted. The property is not currently subject to any conservation order or located within a regeneration area. Not a conservation area Quiet residential area Fair to good condition Balconies Oil-fired central heating Energy efficiency class D 18 car parking spaces in the courtyard Fully let Average rent for residential properties: 5.67 EUR/sqm 86469
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-86469

Property details
  • Property type

    Investment

  • Parking spaces

    18

  • Total surface

    ~1,506 m²

  • Living area

    ~1,506 m²

  • Plot surface

    ~2,578 m²

  • Usable surface

    ~1,506 m²

  • Target return

    5.51 %

Energy efficiency information
  • Construction year

    1966

  • Energy efficiency class

    D

  • Energy certificate available

    Yes

  • Energy certificate type

    Energy Consumption Certificate

  • Final Energy Consumption

    115.9 kWh/m²a

  • Energy source

    Oil heating

Location: Staaken, Berlin

The property is situated in the Staaken neighbourhood on the western edge of Berlin's Spandau district. Spandau is a sought-after and popular residential area due to its established middle-class character and abundance of parks and woodland. The immediate neighbourhood is characterised by a mix of small blocks of flats, housing estates and detached houses, numerous green spaces and various lakes. Local amenities and schools are available in the vicinity. The 'Staaken' regional railway station provides easy access to both the pedestrianised area of Spandau's old town and the main railway station, which offers connections to the U-Bahn and S-Bahn. There are therefore good transport links to Berlin city centre, whether by car or public transport.

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