An IBB-subsidised apartment block in the heart of Spandau's old town
€1,790,000
Description
The corner building comprises a total of thirteen residential units and is fully let. The complex consists of two three-and-a-half-storey buildings constructed in 1981, as well as a two-and-a-half-storey historic building that underwent a complete refurbishment in 1981, and is accessed via three stairwells. There are five parking spaces available in the courtyard. The building wings are arranged around an idyllic, green and peaceful inner courtyard. The property has been consistently maintained and is in a well-kept condition. The well-proportioned, sunny flats are heated by oil-fired central heating and some have balconies.
The property benefited from social housing funding. There is a rent control agreement in place until 2034, which precludes any rent increases. The current net rent (excluding utilities) is EUR7.16 per square metre. The loan has already been repaid. The property is situated within the conservation area designated for the 'Altstadt Spandau' urban character, but not within a protected neighbourhood area.
Used exclusively for residential purposes
Subject to IBB restrictions until 2034
Oil-fired central heating
Energy efficiency class E
Converted attic floors
Five parking spaces in the courtyard
Built in 1981 and extensively renovated
Average rent for residential units: EUR7.16/sqm
51554
Engel & Völkers Commercial Berlin
Your advisor: Team Investment Residential and Commercial
Property ID: OI-BER-51554
Property details
Property type
Investment
Parking spaces
5
Total surface
~969 m²
Living area
~969 m²
Plot surface
~732 m²
Usable surface
~969 m²
Target return
4.83 %
Energy efficiency information
Construction year
1981
Energy efficiency class
E
Energy certificate available
Yes
Energy certificate type
Energy Consumption Certificate
Final Energy Consumption
157 kWh/m²a
Energy source
Oil heating
Location: Spandau, Berlin
The property is situated in a central yet historic part of Spandau's old town, one of Berlin's most distinctive neighbourhoods. It is located on one of the district's most historic streets and is nestled amongst a mix of small-scale buildings, including lovingly restored historic properties, retail outlets, restaurants and cultural venues, all of which lend the area a lively and urban atmosphere. All amenities for daily needs – shops, cafés, restaurants, doctors and service providers – are within walking distance. The bustling Spandau Old Town, with its diverse range of shops and restaurants, is just a few minutes' walk away and is a major attraction for visitors and residents alike. Transport links are excellent: the Rathaus-Spandau complex, with connections to the U7 underground line, the S3 and S9 S-Bahn lines and numerous bus routes, is just a few minutes' walk away and provides a quick link to Berlin city centre and City West. Access for private vehicles is also optimally provided via the B5 and the nearby Heerstraße. Furthermore, the surrounding area, with the nearby River Havel, the Spandau Woods and the Citadel area, offers numerous recreational and leisure opportunities in green spaces and by the water. Overall, the location combines urban living, a historic atmosphere and an excellent infrastructure.
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