Apartment building in a central location in Wedding with a converted attic

€1,875,000
  • ~847 m² Total surface
  • ~847 m² Living area
  • ~637 m² Plot surface

Description

The block of flats was built in 1960/61 and consists solely of a front building. It is accessed via a central stairwell, which includes a lift, and comprises a total of 14 residential units, all of which have a balcony overlooking the quiet inner courtyard (west-facing). Two of the units on the top floor, with a combined area of around 85 m², were completed in September 2021. The property is heated by a gas central heating system installed in 2014 and has a decentralised hot water supply. The entire property is in a well-maintained condition. The flats, ranging in size from approx. 51 to approx. 75 m², are in high demand in this location and are therefore easy to let. There are also five parking spaces in the rear courtyard. A right of way ensures access via the neighbouring plot. It appears possible to construct approx. 232 m² of living space in the rear courtyard area. A positive planning decision from 2017, which has since expired, was previously in place. A share deal for the property company alone, without any operational business, is preferred. Furthermore, attractive existing financing may be taken over if applicable. The property falls within the scope of the 'Leopoldplatz' neighbourhood protection by-law. Central location in Wedding Balconies Gas central heating Energy efficiency class E Sought after apartment sizes Fully rented Passenger elevator Milieu protection area "Leopoldplatz" Average rent residential: 10,73 EUR/sqm 164248
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-164248

Property details
  • Property type

    Investment

  • Parking spaces

    5

  • Total surface

    ~847 m²

  • Living area

    ~847 m²

  • Plot surface

    ~637 m²

  • Usable surface

    ~847 m²

  • Target return

    5.81 %

Energy efficiency information
  • Construction year

    1960

  • Energy efficiency class

    E

  • Energy certificate available

    Yes

  • Energy certificate type

    Energy Consumption Certificate

  • Final Energy Consumption

    132.6 kWh/m²a

Location: Wedding, Berlin

The Wedding district, part of the Mitte borough, borders directly on the centre of Berlin to the north-west of the city. Its central location and excellent transport links to both City-West and City-East have now made Wedding an extremely attractive district with great potential for development. This historic former working-class neighbourhood was once dominated by industry, but has since become a hub for modern service industries, science and culture. The built environment is largely characterised by historic 'Gründerzeit' buildings with rear blocks, interspersed with multi-storey social housing blocks dating from the 1960s to the 1980s. Thanks to an increasing number of regeneration projects and investments, Wedding is now well on its way to becoming a popular residential neighbourhood. The property is situated in the immediate vicinity of Nauener Platz, with the underground station there within walking distance. Leopoldplatz, the heart of Wedding, is also located nearby. The section of Müllerstraße bordering Leopoldplatz offers a wide range of shopping and leisure facilities and has a large catchment area, attracting shoppers from other districts and neighbourhoods. The area around Leopoldplatz is also home to a number of public buildings, such as the Beuth University of Applied Sciences, the District Court, the Town Hall and the Charité University Hospital, which is renowned far beyond the city limits.

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