A charming old stucco-faced building near the River Spree in the Westfälisches Viertel

€7,200,000
  • ~3,387 m² Total surface
  • ~3,267 m² Living area
  • ~1,406 m² Plot surface
  • Construction year 1909

Description

The property, situated in the Moabit neighbourhood of the Mitte district, is a classic mixed-use residential and commercial building dating from 1909. The building complex comprises a prestigious front building with a historic passenger lift, two side wings and a transverse building, and contains a total of 42 flats and one commercial unit. The classic Berlin historic building layout creates an attractive courtyard setting with two well-lit and landscaped inner courtyards. In particular, the cross-wing, which faces the quiet second courtyard, offers numerous flats a sheltered living environment with pleasant lighting conditions. Balconies are situated both on the street side of the front building and in the cross-wing, facing the quiet inner courtyard. As soon as you enter the building, the impressive marble entrance hall conveys an impression of high quality and good upkeep. The communal areas are generally in a good state of repair. Heating is mainly provided by two oil-fired central heating systems; four flats in the front building are currently heated by individual gas-fired heating systems. The flats have been continuously modernised and maintained as tenants have moved in and out, so that the property is now in a generally well-maintained condition. Two residential units have already been converted in the top floor of the front building and the right-hand side wing. The remaining top-floor areas are currently unused and offer further development potential in the future, subject to planning permission being granted. Of particular note is the property's location outside a heritage conservation and regeneration area. Not a conservation area Highly sought-after, central residential location Traffic-calmed street Good condition Features of an older building present Passenger lift in the front block Oil-fired central heating and four gas-fired individual heating systems Energy efficiency class D Fully let Attic partially converted Average residential rent: EUR8.67/sqm Average commercial rent: EUR7.76/sqm 43902
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-43902

Property details
  • Property type

    Investment

  • Total surface

    ~3,387 m²

  • Living area

    ~3,267 m²

  • Plot surface

    ~1,406 m²

  • Usable surface

    ~3,387 m²

  • Target return

    4.88 %

Energy efficiency information
  • Construction year

    1909

  • Energy efficiency class

    D

  • Energy certificate available

    Yes

  • Energy certificate type

    Energy Consumption Certificate

  • Final Energy Consumption

    125.54 kWh/m²a

  • Energy source

    Oil heating

Location: Westfälisches Viertel, Berlin

The property is situated in the Mitte district, in a particularly attractive and consistently sought-after residential area of the Moabit neighbourhood. The 'Westfälisches Viertel' is characterised by its established stock of older buildings, its central location and its immediate proximity to the River Spree and the Bundesratufer. In recent years, the neighbourhood has developed positively thanks to numerous urban development and private-sector investments and is now one of Berlin's most popular inner-city residential areas. The surrounding area offers excellent local amenities, including a wide range of shopping facilities, supermarkets, delicatessens, cafés, restaurants and other services for everyday needs. The nearby Arminiusmarkthalle complements these amenities with a diverse gastronomic and cultural programme. The paths along the banks of the Spree, the Kleiner Tiergarten and the extensive Großer Tiergarten also ensure a high quality of life and living. Transport links are excellent. Via the Turmstraße and Hansaplatz underground stations, which connect to the U9 line, City West, Kurfürstendamm and Zoologischer Garten can be reached in just a few minutes. Berlin Central Station and the government district are also within easy reach. The nearby Beusselstraße junction also ensures a quick link to the Berlin city motorway. The combination of an urban lifestyle, excellent infrastructure and a central location makes this location particularly attractive.

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