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
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.