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Attractive residential and commercial building in a sought-after location—fully leased with development potential

€3,000,000
  • ~1,839 m² Total surface
  • ~1,706 m² Living area
  • ~673 m² Plot surface
  • ~133 m² Office surface
  • Construction year 1900

Description

The residential and commercial building was built around 1900, consists of 26 apartments and one commercial unit, and is divided into a front building and two side wings. Each section spans five full stories. The commercial unit is currently leased by a law firm. Numerous period details, such as a grand entrance to the front building, historic doors, stucco ornamentation, and corresponding ceiling heights, are still intact. The fully leased units are heated by a new gas central heating system installed in 2019. In addition, the bathrooms in the right side wing were modernized that same year. Hot water is supplied decentrally via instantaneous water heaters. In recent years, in addition to the heating system, some of the windows have also been replaced. The apartments have been gradually modernized as tenants have moved out, as needed. Due to their sizes ranging from 30 m² to 130 m², the units are considered highly marketable. The property is currently located in a redevelopment area (comprehensive procedure). Redevelopment Area (Comprehensive Process) Not a historic district Popular residential area Fully leased Central gas heating, installed in 2019 Historic architectural details Balconies available Overall good condition Attic not converted Average residential rent: 6.96 EUR/m² Average commercial rent: 7.12 EUR/m² 9348
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-9348

Property details
  • Property type

    Investment

  • Total surface

    ~1,839 m²

  • Living area

    ~1,706 m²

  • Plot surface

    ~673 m²

  • Office surface

    ~133 m²

  • Usable surface

    ~1,839 m²

  • Target return

    5.07 %

Energy efficiency information
  • Construction year

    1900

  • Energy certificate available

    No

Location: Gesundbrunnen, Berlin

The street is located in a central residential area in the Gesundbrunnen neighborhood and offers good connections to the city center in Mitte and to Prenzlauer Berg. The Wedding district has transformed from an industrially dominated area into a hub for modern service industries, research, and culture. With its green spaces—such as Volkspark Rehberge, Volkspark Humboldthain, and Schillerpark—as well as its proximity to and excellent connections to Berlin's city center, Gesundbrunnen is a neighborhood that combines recreational opportunities with the benefits of city life. The property is located in an area used primarily for residential purposes. Public transportation access is well-served by the M 13 tram line and the "Pankstraße" subway station, which is approximately 600 meters away.

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