A listed building that is fully let near the historic old town

€600,000
  • ~385 m² Total surface
  • ~385 m² Living area
  • ~169 m² Plot surface
  • Construction year 1875

Description

The property is a multi-family house, built around 1875, comprising solely the front block with seven flats spread across three full storeys and an attic floor converted into one flat. It is a listed building. Access to the property is via a central staircase, and it is in a fair to sound condition, both structurally and visually. The front façade has been repainted and is in good condition; the water supply and drainage pipes have also been replaced. The electrical system, however, is of a significantly older date. The flats are, for the most part, of a basic standard. Some original features of the building, such as the old staircase and the attractive front façade, have been preserved. The fully let units are heated by electric storage heaters. Hot water is also provided locally via instantaneous water heaters. Two flats are still subject to gross cold rent agreements. The top floor has already been converted into one flat. The property lies within the scope of a conservation order, specifically the 'Altstadt Spandau' urban conservation area. Quiet residential area Listed building Condition: fair to sound Residual heat storage stoves Original architectural features preserved Two gross rent-only tenancy agreements Fully let Average residential rent: EUR4.95/sqm 7623
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-7623

Property details
  • Property type

    Investment

  • Total surface

    ~385 m²

  • Living area

    ~385 m²

  • Plot surface

    ~169 m²

  • Usable surface

    ~385 m²

  • Target return

    3.81 %

Energy efficiency information
  • Construction year

    1875

  • Energy certificate available

    No

Location: Spandau, Berlin

Spandau's Old Town captivates visitors with its location in the west of Berlin and its charming atmosphere. Spandau's Old Town is Berlin's largest pedestrian zone and, due to its history, forms part of the 'Altstadt Spandau' conservation area. It is the main shopping street for strolling and browsing, stretching between the Altstädter Ring and the Juliusturm. The side streets are home to numerous shops, cafés, restaurants, doctors' surgeries and law firms, making this the most sought-after location for businesses in Berlin's Spandau district. The banks of the Spree and Spandau Citadel are within walking distance. Spandau is very well connected to the city centre, both by car and by public transport, particularly thanks to the excellent development of the S-Bahn and long-distance rail networks. There are numerous parking facilities in the immediate vicinity.

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