A block of flats managed under the WEG scheme in the green district of Neukölln

The property is nestled in an established residential neighborhood in Berlin's Neukölln district, where this apartment building, constructed in 1970, is located. By the end of 2023, a comprehensive renovation of the building's piping system—extending into the individual apartments—had been completed. The property comprises a total of six residential units, which are divided in accordance with the German Condominium Act (WEG). There are no preemptive purchase rights. Currently, five apartments are leased, while one unit is vacant and undergoing renovation, which opens up potential for future value appreciation and income generation. The building is in a simple, well-maintained condition and blends harmoniously into the surrounding neighborhood. The clear and functional building structure underscores the property's classic character and reflects the typical architecture of the era in which it was built. The property also includes a separate two-family house, which is not included in the valuation. This house is supplied with heat via the front building's heating system. The costs incurred are billed transparently and separately through a sub-WEG, ensuring a clear cost and ownership structure. The location in Berlin's Neukölln district offers an urban living environment with good transportation connections and a well-established infrastructure in the immediate vicinity. Shopping options, services, and public transportation are within walking distance and contribute to the location's sustainable rental potential. Co-ownership package Full basement Balconies Two spacious double garages Efficient floor plans Energy efficiency class F One vacant unit Average rent for residential units: EUR8.49/m² O217839