Multi-family house with high vacancy rate in sought-after location in Lichterfelde West
Price
€1,100,000
Multi-family house with high vacancy rate in sought-after location in Lichterfelde West
€1,100,000
~567 m² Total surface
~567 m² Living area
~1,222 m² Plot surface
Description
The property is a classic apartment building dating from around 1890 with a total of five residential units. The units are spread across a front building with two full floors and a partially converted attic, as well as a two-story side wing at the rear of the property. Three apartments in the front building and the side wing, which constitutes one residential unit, will be handed over vacant. The property has a full basement. The residential units have balconies, terraces, or access to the garden. The building has a full basement. The spacious property, measuring approximately 1,220 m², faces south. There are along the western property line. Additional parking spaces for bicycles and cars are available.
The property has a high vacancy rate, which opens up numerous possibilities for use and allows for flexible development. The building is in need of renovation. Original old building style elements are still partially present in the residential units and underline the old building character of the property.
Heating is provided by oil-fired central heating and additionally installed gas boilers.
The property is not located in a protected area, but within the scope of a conservation area designed to preserve the unique character of the urban landscape.
Preservation area with unique urban character, not listed as a historic building
Sought-after residential area
In need of renovation
Classic apartment building from 1890
Some original architectural features still present
86% vacancy rate
Attic partially converted
Oil central heating and gas water heaters
Average residential rent: EUR6.89/sqm
O6428
Your advisor: Team Investment Residential and Commercial
Property ID: OI-BER-O6428
Property details
Property type
Investment
Total surface
~567 m²
Living area
~567 m²
Plot surface
~1,222 m²
Usable surface
~567 m²
Target return
5.11 %
Energy efficiency information
Construction year
1890
Energy certificate available
No
Location: Lichterfelde, Berlin
The property is located on a quiet residential street lined with apartment buildings and townhouses. Shops for everyday needs are within walking distance on Drakestraße. For items beyond everyday needs, the Schloßstraße shopping district is just a few minutes away by car. The famous Botanical Garden is also nearby, inviting visitors to linger. Transport links are excellent for private transport thanks to the optimal proximity to the A100 city highway. Local public transport (bus, subway, suburban railway) is within walking distance.
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