Engel & Völkers
Eingangsbereich

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
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Engel & Völkers Commercial Berlin

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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