Well-maintained apartment building with potential for development in a sought-after neighborhood in Kreuzberg

The property is a multi-family apartment building constructed around 1890, comprising a total of 28 residential units. These are distributed across five full floors within a front building and a rear building and are fully let with the exception of two units in the rear building. One of these units is in need of refurbishment. Access to the individual units is provided via two well-maintained staircases. The property presents itself in a well-maintained condition both visually and technically. While the façade is kept simple, historical details such as elegant handrails, high ceilings, and classic doors give the property a distinctive charm. In recent years, residential units have been successively modernized upon tenant changes. Heating is provided by a central oil-fired heating system and hot water is generated electrically. In only four units in the front building, hot water is still generated via individual gas boilers. The water pipes leading to the rear building have been newly installed. In the rear building itself, the riser pipes have been renewed and the electricity meters centralized. The outdoor toilets have been dismantled with one exception. In addition, the firewall of the rear building and the top floor ceilings in both the front and rear building have been thermally insulated. The front building features new fresh water pipes and a newly reconstructed chimney. As part of refurbishment measures carried out in 2014, the staircases were modernized and the exterior façades were freshly plastered. Furthermore, the property includes an approximately 400 sqm underground garage, which is currently not in use due to the absence of a fire protection concept. Additional development potential arises from the partially undeveloped attic spaces, as well as from an approximately 320 sqm warehouse located in the second rear courtyard, which is accessed via a driveway. The warehouse will be handed over vacant. The property is located within the scope of a preservation statute, the conservation area "Hornstraße". "Hornstraße" Neighborhood Preservation and Conservation Area Sought-after neighborhood location Well-maintained condition Original architectural details present Low vacancy rate Oil-fired central heating Energy efficiency class F Storage room in the second courtyard Underground parking garage in need of renovation Average residential rent: 8.02 EUR/sqm 47201