Split historic building in prime location in Mitte

€3,350,000
  • ~929 m² Total surface
  • ~787 m² Living area
  • ~495 m² Plot surface
  • ~142 m² Shop surface

Description

The property is a residential and commercial building constructed around 1854 and subdivided in the land registry in 2016, comprising nine apartments and two commercial units. The property was physically divided several years ago, and the rear lot was sold and developed. Of the total of eleven units, eight are currently leased and are distributed across three full stories and an attic floor—which was converted in 2004—in a front building with a side wing. The vacant duplex unit in the attic of the front building and the vacant attic unit in the side wing are adjacent to one another, making a merger technically feasible. The units are accessed via two well-maintained stairwells. Also worth noting is the well-maintained inner courtyard. The most recent renovations to the property took place within the last 15 years, during which the plumbing and electrical systems were replaced. In addition, some of the windows in the building were upgraded to modern standards. Almost all of the apartments are also in good condition and have been gradually renovated over the past ten years as tenants moved in and out. Some of these apartments feature laminate or hardwood floors and white-tiled bathrooms. Heating is provided by a gas-fired central heating system. Of the nine residential units, six currently have a statutory right of first refusal. The property is located in an area designated for the preservation of urban character, but not in a neighborhood preservation zone. Furthermore, the property is a historic landmark. No protected neighborhood Sought-after residential area Divided according to WEG Six preemptive rights Good overall condition Old building Historic monument Gas central heating Attic converted Average rent for residential property: EUR7.55/sqm Average rent for retail space: EUR20.00/sqm 33671
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-33671

Property details
  • Property type

    Investment

  • Total surface

    ~929 m²

  • Living area

    ~787 m²

  • Plot surface

    ~495 m²

  • Shop surface

    ~142 m²

  • Usable surface

    ~929 m²

  • Target return

    4.22 %

Energy efficiency information
  • Construction year

    1854

  • Energy certificate available

    No

Location: Mitte, Berlin

The property is located in the Mitte district in the Rosenthaler Vorstadt area. Arkonaplatz and Veteranenstraße, which are very popular with residents, are in the immediate vicinity. Rapid development is taking place here. Almost all of the properties there have been or are being modernized and re-let. A decisive impetus is coming from the development of the former Jandorf department store into a conference center and the renovation of the Fehrbelliner Höfe. Transport links are good, both by car and by public transport. The Bernauer Straße underground station (U8) is in the immediate vicinity of the property. Shopping facilities for daily needs are available in the surrounding area. The Mitte district offers a wide range of shopping opportunities, cultural institutions, restaurants, and cafés within walking distance. The popular Weinbergspark is also only a few minutes' walk away.

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