Residential and commercial building in the Kollwitz neighborhood

€3,600,000
  • ~1,456 m² Total surface
  • ~1,225 m² Living area
  • ~795 m² Plot surface
  • ~231 m² Office surface
  • Construction year 1900

Description

The property is a mixed-use residential and commercial building, constructed around 1900, comprising a front building, a side wing and a coach house. In total, the property comprises 17 units, consisting of 14 residential and three commercial units. The property is fully let, with the exception of three residential units on fixed-term tenancies, one flat that is currently vacant and one vacant office unit. The flats range in size from approximately 61 to 124 m², which meets current demand – particularly from young people and families in this highly sought-after micro-location. The average rent for the residential units is currently EUR6.22/m², whilst the commercial units are let at an average rent of EUR12.55/m². Both technically and visually, the property is in a modest condition. Heating is provided by individual gas-fired radiators, although some residential units are still fitted with stove heating. The top floor offers interesting potential for conversion, taking into account the neighbouring buildings. In the late 1990s, some refurbishment work was carried out on the façade; in addition, the residential units have undergone gradual renovation. Some units feature classic features of older buildings, such as wooden floorboards and stucco, but overall, given the current average rent, they reflect a rather modest standard of fit-out. The property is situated in the 'Kollwitzplatz' conservation area. Built around 1900 "Kollwitzplatz" historic preservation district Sought-after residential area Gas-Fired Radiators and stove Heating Apartment sizes ranging from 61 to 124 sqm Low proportion of fixed-term leases Attic appears to have potential for conversion Average residential rent: EUR6.55/sqm Average commercial rent: EUR12.70/sqm 38047
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-38047

Property details
  • Property type

    Investment

  • Total surface

    ~1,456 m²

  • Living area

    ~1,225 m²

  • Plot surface

    ~795 m²

  • Office surface

    ~231 m²

  • Usable surface

    ~1,456 m²

  • Target return

    3.89 %

Energy efficiency information
  • Construction year

    1900

  • Energy certificate available

    No

Location: Prenzlauer Berg, Berlin

The former regeneration area around Kollwitzplatz is now one of the most sought-after residential areas in the Prenzlauer Berg district. Situated in the immediate vicinity of the Mitte district and just around 1.5 kilometres north of Alexanderplatz, the Kollwitzkiez combines urban living with the character of a long-established neighbourhood. Since reunification, the neighbourhood has undergone a lasting transformation and is now one of the capital's most established and prestigious residential addresses. It is characterised by an attractive mix of meticulously renovated historic buildings, well-maintained green spaces and an excellently developed infrastructure. Kollwitzplatz itself forms the lively heart of the neighbourhood and is regarded as one of Berlin's most beautiful and popular squares. The surrounding area is characterised by a diverse, above-average quality of restaurants and retail outlets. Numerous cafés, restaurants and boutiques shape the streetscape and create a lively yet relaxed atmosphere. The dining scene is regarded as international, modern and of a high standard, making the neighbourhood highly sought-after by families, professionals and international residents alike. Shops for everyday needs, weekly markets and a wide range of leisure and recreational activities are right on the doorstep. Saarbrücker Straße is situated in the historic Königsstadt district and benefits from a particularly attractive neighbourhood of listed buildings. The nearby Torstraße and the Scheunenviertel district, with its well-known Auguststraße, are within walking distance and expand the urban offering to include art, culture and further nightlife. A particular focus of development in recent years has been the site of the former Bötzow Brewery.

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