Fully let apartment building with commercial spaces, Berlin, Germany

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Fully let apartment building with commercial spaces, Berlin, Germany

6,500,000 €
3,267 € /m²
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  • Total area
    1,989 m²
  • Yield
    3.1%
  • Built in 
    1908
Details
Property parameters
  • Land area: 607 m²
  • Total apartments: 25
  • 5-floor building
Financial performance
  • Annual income: 204,176 €
Tenants
  • Fully let
Transaction costs
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.0%
  • Broker: 6.0% + VAT

Apartment building in the Kreuzberg district.

Description

The apartment building includes 25 apartments with a total area of 1,612 m² and two commercial spaces on the ground floor with a total area of 77 m².

The property is in very good condition.

Tenants

Fully let.

Location and nearby infrastructure

The property is located in the Kreuzberg district, a 2-minute walk from the metro station. There are all the main infrastructural facilities nearby: various parks, schools, shops, supermarkets, cafes and restaurants.

Kreuzberg is one of the most popular districts of Berlin. The population of Kreuzberg is more than 150,000 people.

Kreuzberg is known for its special cultural and historical atmosphere. The architecture of the district is determined by the historic stucco houses of the Wilhelmina era and the beginning of the 20th century. The area has many shops, cafes and restaurants, as well as leisure facilities, including Victoria Park with Kreuzberg Hill. The area is served by numerous bus routes, as well as metering stations ”Mehringdamm“ and ”Yorkstraße“.

Berlin is the capital of Germany with the population more than 3.9 million people.

Within EU Berlin is one of the cities with the highest business activity. About 80% of companies in Berlin work in the services sector. Several large corporations, such as Siemens, Volkswagen, Pfizer and SAP, have headquarters in Berlin.

2 airports of Berlin — Tegel and Schönefeld — serve more than 40 million passengers a year.

Today Berlin is a world cultural center and one of the most visited cities on the continent. The annual number of tourists exceeds 30 million people.

The average monthly salary in Berlin is about 2,200 €.

The purchasing power index for March 2019 is 108.67 (12th place in the country).

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    Marina Filichkina
    Marina Filichkina,
    Head of Sales
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