Fully leased residential and commercial building in the Schillerkiez neighborhood

The property is a residential and commercial building constructed around 1903 in the classic Berlin historic style. The building complex consists of a front building, a side wing, and a cross wing, and comprises a total of 23 residential units and one commercial unit, which are distributed across the ground floor and four upper floors. The attic is currently unfinished and may offer additional development potential. Access to the property is via two well-maintained stairwells, with the main entrance secured by an electronic combination lock. The property is a distinctive historic building with the architectural charm typical of its era. Historic architectural elements and the classic proportions of older buildings give the property an appealing appearance. The residential units feature functional floor plans and benefit from the generous ceiling heights typical of older buildings. The commercial unit located on the ground floor is leased to a small supermarket. The existing rent also includes a modernization assessment of EUR1.09/sqm. In recent years, significant investments have been made in the building stock. In the last ten years alone, approximately EUR900,000 has been invested in the modernization and maintenance of the property. The measures included, among other things, the renovation of numerous residential units, insulation of the two freestanding fire walls, insulation of the basement ceiling and the top-floor ceiling, and a comprehensive roof renovation in 2022. Heating and the central hot water supply are provided by a gas-fired central heating system, whose supply tank was recently replaced. Overall, the property is in solid and well-maintained condition. The property falls within the scope of the preservation ordinance and the "Schillerpromenade" neighborhood preservation zone, and is thus located in an established residential area near Tempelhofer Feld with consistently high demand. "Schillerpromenade" Heritage Preservation District Features traditional architectural details Sought-after residential area Central gas heating Energy efficiency class E Fully leased Attic not converted Average residential rent: 9.76 EUR/sqm Average commercial rent: 9.13 EUR/sqm 47196