Residential and commercial building with vacancy in prime Prenzlauer Berg location
Price
€4,500,000
Residential and commercial building with vacancy in prime Prenzlauer Berg location
€4,500,000
~1,746 m² Total surface
~1,571.27 m² Living area
~633 m² Plot surface
~174.86 m² Rental Surface
Description
Built around 1885, the property consists of a front building with a quiet courtyard, a side wing and a rear building with a second courtyard. The 27 residential and two commercial units are accessed via three stairwells. The property is in a partially renovated state. Over the past 20 years, work has been carried out on the electrical and riser pipes, in the entrance area, on the roof and successively in the residential units. Two smaller empty units are currently being used by the owner as storage and are in need of renovation. The attic floor, which measures approx. 250-300 m², appears to be expandable in principle, but a building permit is not available. The units are heated by a gas-fired central heating system. The property is in good and solid condition. The striking façade gives the property a very special charm. Almost half of the apartments have a shower cubicle in the kitchen. Approximately 50% of the rental contracts have a maximum of between six and twelve months left to run, so the property offers further potential.
Ensemble monument
Very good residential complex
Partially refurbished
Gas central heating
Neighbourhood protection
Charming old building character
Partly fixed-term tenancy agreements
Average residential rent: EUR 8.44/m²
Average shop rent: EUR 10.22/m²
Attic appears to be expandable
46806
Your advisor: Team Investment Residential and Commercial
Property ID: OI-BER-46806
Property details
Property type
Investment
Total surface
~1,746 m²
Living area
~1,571.27 m²
Plot surface
~633 m²
Rental Surface
~174.86 m²
Usable surface
~1,746 m²
Target return
4.14 %
Energy efficiency information
Construction year
1885
Energy certificate available
No
Location: Prenzlauer Berg, Berlin
The property is located in the popular residential area of Prenzlauer Berg, near Mauerpark and the Kulturbrauerei on the border with the Mitte district. In recent years, this part of the district has developed into a popular residential and business area. The central yet quiet location, within walking distance of Kollwitzplatz, Kastanienallee, Alexanderplatz and Hackescher Markt, explains the high demand for living space in this neighbourhood. The immediate surroundings are characterised by mostly renovated residential and commercial buildings in block perimeter development. Transport connections are well ensured both by car and by public transport. The U2 underground line and various tram lines can be reached on foot in about five minutes. There are plenty of shops for daily needs in the immediate vicinity.
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