A very well-maintained residential and commercial building

€2,150,000
  • ~1,047 m² Total surface
  • ~812 m² Living area
  • ~600 m² Plot surface
  • ~235 m² Office surface

Description

The property is a mixed-use residential and commercial building constructed around 1905, featuring 19 apartments and a commercial outbuilding in the courtyard. The commercial space is currently leased to an advertising agency. Of the 19 residential units, 16 are currently leased and are distributed across four full stories in a front building and a side wing, accessed via two well-maintained stairwells. Two of the three vacant units are in need of renovation. Historic building details such as wooden staircases, authentic stucco elements, and the original historic doors are also still present in the property. Of particular note is the energy-efficiency renovation completed in 2012, during which the facades were insulated and triple-pane plastic insulated glass windows were installed. The risers in the front building were also replaced as part of the last renovation. Most of the apartments themselves are also in good condition and have been gradually renovated as tenants have moved out. Some are equipped with new hardwood floors, white-tiled bathrooms, and, in some cases, built-in kitchens. The entire property is heated by a gas central heating system installed in 2012. Hot water is supplied locally via instantaneous water heaters. A cell phone antenna is installed on the roof. The basement appears to be in good condition. The property is currently located in the "Letteplatz" neighborhood preservation zone. Popular residential area "Letteplatz" protected neighborhood Good condition Features traditional architectural elements Gas central heating Energy efficiency class: C Energy-efficient renovation Low vacancy rate Average residential rent: EUR10.16/sqm Average commercial rent: EUR4.47/sqm 7669
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-7669

Property details
  • Property type

    Investment

  • Total surface

    ~1,047 m²

  • Living area

    ~812 m²

  • Plot surface

    ~600 m²

  • Office surface

    ~235 m²

  • Usable surface

    ~1,047 m²

  • Target return

    5.56 %

Energy efficiency information
  • Construction year

    1905

  • Energy efficiency class

    C

  • Energy certificate available

    Yes

  • Energy certificate type

    Energy Consumption Certificate

  • Final Energy Consumption

    94.44 kWh/m²a

  • Energy source

    Gas heating

Location: Reinickendorf, Berlin

The property is located in a middle-class residential and commercial area of the Reinickendorf district, right on the border with the Gesundbrunnen neighborhood. The neighborhood is characterized by a mix of Wilhelminian-style buildings, post-war reconstructions from the 1960s and 1970s, and new developments. The immediate vicinity includes the park surrounding Schäfersee and green spaces and recreational areas directly along the Panke River. Public transportation (e.g., the "Franz-Neumann-Platz" and "Osloer Straße" subway stations) is within walking distance, as is the main shopping street, the extended Residenzstraße, with its numerous local retail and recreational offerings. Numerous schools and daycare centers round out the wide range of amenities.

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