Fully let residential building

€1,300,000
  • ~877 m² Total surface
  • ~877 m² Living area
  • ~638 m² Plot surface
  • Construction year 1963

Description

The property is a block of flats built around 1963, comprising solely the front building with 14 flats spread across five full storeys, plus one flat in the attic with a terrace. Facing the courtyard are three garage spaces and car parking spaces, which are not currently let separately. Access to the property is from the rear via a central stairwell with a passenger lift, and it is in a fair to sound condition, both technically and visually. Almost all flats have a balcony or bay window. The fully let units are heated by a central gas heating system. Hot water is provided locally via instantaneous water heaters. The gas central heating system was replaced prior to 2024. The property features some plastic double-glazed windows, but is predominantly fitted with wooden windows. The property has been subject to ongoing maintenance; however, no major refurbishment work has taken place since its construction. The pipework and electrical systems have not yet been replaced. The flats are also, for the most part, of a basic standard. The property lies within the scope of a conservation order, the new 'Stresow' heritage conservation area. Conservation area "Stresow" Located on a busy main road Condition: fair to good Balconies or bay windows Gas central heating Energy efficiency class E Three garages in the courtyard Converted attic Fully let Average rent for residential properties: 5.89 EUR/sqm 8504
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Engel & Völkers Commercial Berlin

Your advisor: Team Investment Residential and Commercial

Property ID: OI-BER-8504

Property details
  • Property type

    Investment

  • Total surface

    ~877 m²

  • Living area

    ~877 m²

  • Plot surface

    ~638 m²

  • Usable surface

    ~877 m²

  • Target return

    4.93 %

Energy efficiency information
  • Construction year

    1963

  • Energy efficiency class

    E

  • Energy certificate available

    Yes

  • Energy certificate type

    Energy Consumption Certificate

  • Final Energy Consumption

    151.2 kWh/m²a

  • Energy source

    Oil heating

Location: Spandau, Berlin

The property is situated in the Spandau district of Berlin, in the Wilhelmstadt neighbourhood. Spandau's old town, Berlin's largest pedestrian zone, is within walking distance. A comprehensive neighbourhood development is underway in the surrounding area, with the aim of attracting around 50,000 new residents. Among other things, a residential quarter is being built on Gartenfeld Island and a new urban quarter on the Siemens site. In addition, the Geschützgießerei site is set to be developed into a high-quality office location in the near future, which will also drive up demand for housing. Spandau is very well connected to the city centre both by car and by public transport – particularly thanks to the excellent expansion of the S-Bahn and long-distance rail networks.

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