A prestigious, listed residential and commercial building in the Kaskelkiez neighbourhood

€3,200,000
  • ~1,427 m² Total surface
  • ~1,133 m² Living area
  • ~553 m² Plot surface
  • ~101 m² Shop surface
  • ~193 m² Office surface
  • Construction year 1891

Description

The property is a residential and commercial building, constructed around 1891, comprising twelve flats and two commercial units spread across five full storeys in a corner building. The top floor has not yet been converted. This listed ensemble is accessed via two very well-maintained stairwells; one of these contains a passenger lift serving all floors. The building complex is in a well-maintained technical condition and in very good visual condition. Numerous period features, such as a particularly ornate stucco façade, historic doors and characteristic ceiling heights, are present and lend the property its special charm. The residential and commercial units are fully let. Just over half of all units were refurbished in the 2010s. Between 2007 and 2019, balconies were also added, both stairwells were refurbished, the façades were restored and the gas mains were replaced. The units are heated by individual gas-fired radiators. The deep cellar shows signs of damp. The remaining cellar areas are well maintained and appear to be free of defects. The property lies within the scope of a conservation order, the 'Kaskelstraße' conservation area. The property is a listed ensemble. "Kaskelstraße" Heritage Conservation Area Listed building complex Highly sought-after residential area Traffic-calmed street Impressive stucco façade with balconies Good condition Gas-fired panel heaters Passenger lift in one of the stairwells Fully let Average residential rent: 7.59 EUR/sqm Average commercial rent: 8.90 EUR/sqm 89990
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-89990

Property details
  • Property type

    Investment

  • Total surface

    ~1,427 m²

  • Living area

    ~1,133 m²

  • Plot surface

    ~553 m²

  • Shop surface

    ~101 m²

  • Office surface

    ~193 m²

  • Usable surface

    ~1,427 m²

  • Target return

    4.22 %

Energy efficiency information
  • Construction year

    1891

  • Energy certificate available

    No

Location: Rummelsburg, Berlin

The Lichtenberg district in Berlin borders the districts of Friedrichshain and Prenzlauer Berg to the east. It encompasses a wide variety of architectural styles within its boundaries. Alongside Karlshorst, with its villa-like character, there are neighbourhoods of older buildings, developments dating from the 1920s and large-scale housing estates built using the 'Plattenbau' prefabricated construction method. The Kaskelkiez consists almost entirely of well-preserved and refurbished old stucco-faced buildings, which offer a high quality of living due to the absence of rear buildings and the low height of the structures. The restoration of public spaces as part of the regeneration programme has been completed. As a place to live, the Kaskelkiez is enjoying steadily rising demand. Local amenities are provided by small shops in the neighbourhood and the nearby Victoria Centre. Furthermore, a campus of the HTW is located in the immediate vicinity. Thanks to the 'Rummelsburg' S-Bahn station and the nearby 'Ostkreuz' railway station, connections to the rail network are excellent.

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