Residential and commercial building divided according to the WEG
€3,350,000
- ~1,120 m² Total surface
- ~1,120 m² Living area
- ~1,039 m² Plot surface
Description
The property is a multi-family residence built around 1912 and divided under the German Condominium Act (WEG), comprising a total of 13 apartments. The fully leased apartments are spread across four full stories and an attic floor that was converted in 2018, located in a front building with a small side wing. The very well-maintained backyard was renovated about ten years ago, creating a total of ten parking spaces, a bicycle parking area, and a trash collection area.
The property is accessed via a very attractive stairwell; the entrance area, in particular, impresses with charming stucco elements and detailed furnishings, including lighting fixtures from France and a custom-made mirror. Overall, the property is in exceptionally well-maintained condition.
The most recent renovations took place within the last five years; in 2021, all combi-boilers were replaced. In 2024, all windows—except for three on the courtyard side—were replaced with modern, triple-glazed, soundproof windows. The residential units were extensively and high-quality renovated as tenants moved in. With the exception of the ground-floor units, all apartments have a balcony. One of the two ground-floor units has two terraces. An open courtyard layout ensures good natural light in all units. All but one apartment have a basement storage unit. The apartment without a basement storage unit is equipped with a storage room.
In 2016, the property was subdivided in the land registry in accordance with the German Condominium Act (WEG). This results in five statutory preemptive rights for the tenants.
The property is not located within the scope of a preservation ordinance nor in a formally designated redevelopment area.
Not in a protected neighborhood
Sought-after residential area
Good condition
Good public transportation access
Gas-fired individual heating systems
Energy efficiency class D
Balconies
High-quality attic conversion
Fully leased
Average residential rent: 11.85 EUR/sqm
Average commercial rent: 8.76 EUR/sqm
38601
Engel & Völkers Commercial Berlin
Your advisor: Team Investment Residential and Commercial
Property ID: OI-BER-38601
Property details
- Property type
Investment
- Parking spaces
10
- Total surface
~1,120 m²
- Living area
~1,120 m²
- Plot surface
~1,039 m²
- Usable surface
~1,120 m²
- Target return
4.9 %
Energy efficiency information
- Construction year
1912
- Energy efficiency class
D
- Energy certificate available
Yes
- Energy certificate type
Demand certificate
- Final energy demand
116.23 kWh/m²a
Location: Pankow, Berlin
The property is located in an established residential neighborhood in Berlin's popular Pankow district, in the northeast of the capital. The streetscape is predominantly characterized by attractive residential buildings, featuring a charming mix of classic older structures, well-maintained postwar buildings, and a few modern new constructions. All amenities for daily needs, including supermarkets, schools, and daycare centers, are located in the immediate vicinity and are within easy walking distance. The lively center of Pankow, with its diverse selection of retail stores, cafés, and restaurants, is also not far away and perfectly complements the local infrastructure. Transportation connections are excellent. The nearby "Pankow-Heinersdorf" S-Bahn station, along with various bus and tram lines in the wider area, ensure fast and convenient access to downtown Berlin and the surrounding neighborhoods. This attractive residential environment is complemented by nearby green spaces and parks, which offer plenty of room for relaxation and recreational activities in nature.
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