Residential and commercial building in the popular Sprengelkiez neighbourhood

The property is a residential and commercial building constructed around 1900 in the classic Berlin old-style architecture. The building complex comprises a front block, a transverse block and a rear side wing, and includes a total of 27 residential units spread over five full storeys, as well as one commercial unit on the ground floor of the front block. The attic is currently unfinished and may offer additional development potential. Access to the property is via three stairwells. Both visually and technically, the property is in a basic condition and in need of refurbishment. A few historic features, such as original doors or stucco elements, have been preserved, offering a glimpse of the building's original character. The residential units vary in size from approximately 27 to 130 m², thereby appealing to a broad tenant base and offering good lettability. Nine residential units are currently vacant. These are in a condition requiring extensive refurbishment. Two further units are currently occupied by the owner and will be handed over vacant following the sale. The commercial unit is situated on the ground floor and is also occupied by the owner; it will be handed over vacant. Heating is provided by individual gas-fired boilers and Gama heating systems. Hot water is supplied decentrally via instantaneous water heaters. There are also two parking spaces at the rear of the property. Overall, the property offers attractive prospects for value appreciation and development, particularly due to the vacant units and the unfinished attic. The property falls within the scope of the conservation order for the 'Sparrplatz' heritage conservation area and is therefore situated in a sought-after residential location with a stable rental market. 'Sparrplatz' conservation area Sought-after residential area Period architectural features Gas central heating/Gamat heating systems Attic not converted High vacancy rate Maintenance backlog Average residential rent: EUR4.54/sqm 43757