Multi-family residential building,...
Multi-family residential building (MFH) with 19 well-rented residential units, divided, sustainable yield property in good location of Berlin-Mitte, further POTENTIAL with generous roof blank for extension as well as a partial trade/residential in the basement, lift and balcony extension possible.
*deutsch: Dieses Expose ist in deutscher, englischer und russischer Sprache vorhanden.
*english: This Expose is available in German, English and Russian language.
*русский: Этот Expose доступен на немецком, английском и русском языкe.
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The property offered here is located in 10119 Berlin-Mitte (Prenzlauer-Berg) and was built around 1900.
The property has a size of 486 m2 and a currently rentable total living space of approx. 1,186 m2.
In addition, there are the areas of the roof void with approx. 200 m2 which can be developed, and the basement with approx. 60 m2 area which can be used commercially or for living under certain circumstances, as the corresponding legally regulated ceiling height exists.
These are interesting, expandable and thus value-creating potentials, which have an effect on further rental income and the overall value ratio of the property.
The total area then possible to let amounts to 1,392 m2.
The area there was a redevelopment area until approx. 2014.
The house was thus released from redevelopment.
The redevelopment compensation or redemption contributions were paid by the owner according to BauGB §154.
The basement with an area of approx. 60 m2 could possibly be converted and used commercially or for living, e.g. an additional rental to a craftsman at a daily rate or similar use or an additional residential tenant would be conceivable.
In any case, the basement was used in this way in the past (you can see it in the existing old wallpaper). Appropriate connections for the sanitary facilities, among others, are available.
With the exception of 4 residential units from the total stock of 19 flats, the tenancy agreements are regularly let for a limited period of time, so that the tenancy agreements can be changed or terminated at short notice if desired.
The tenant structure is young to middle-aged, which means that these people are in professional life and have to change jobs and move from time to time.
This MFH rental building has been owned by the same owner for about 25 years and has recently been fully subdivided.
An energy performance certificate is yet to be provided by the owner.
The building has long been owned by the vendor who was NOT provided with floor plans at the time of purchase and therefore no new ones have been produced subsequently.
In total, the building offers 19 residential units with 44 rooms as follows;
10 flats are in the side wing
9 flats are in the front main building
The residential building has recently been divided into individual flats (declarations of partition).
The flats are divided as follows:
-14 flats with 2 rooms each
- 4 flats with 3 rooms each
- 1 flat with 4 rooms
There are no balconies and lift yet, but as in the neighbouring houses, they can be retrofitted accordingly and promise further potential.
The space for these extensions and conversions is available.
The building permit will be granted according to the owner.
The fitted kitchens are rental property (property of the seller), which are always renewed accordingly.
The house resp. the stucco facade is "not" subject to monument protection.
The central heating and the central water supply are operated with natural gas.
The technical condition of the individual flats is very good, the furnishings are uniformly normal.
There is no stucco in the flats.
The rental income of the 19 residential units forms an annual income of € 237,000.
For the extension of the roof void and the existing basement, the rental income ratio is correspondingly higher, and therefore the yield.
According to economic calculations, the extended roof shell can generate an additional annual income of at least € 50,000 and the basement an additional € 8,000 according to the extension and conversion.
According to the owner, the roof shell will be granted a building permit.
In total, the entire rental property can then bring in an annual income of approx.
€ 300,000.00.
A possibly even higher income depends on the design and furnishing of the additional areas, as well as the possible balcony extensions and lift.
Likewise, there is further potential in the existing rental flats, depending on the higher-quality fittings to be updated.
No easements are registered in the land register extract.
The management of the apartment building is taken over by the owner himself.
The owner pays for any repairs, etc. from his own cash flow, which is covered by the very good rental income.
Consequently, there is no economic plan, the redistribution is carried out according to the legal requirements.
You can also view the complete and original exposé directly on our website under the following link and in other languages.
Link:
The apartment building property was extensively renovated in the years 1998-202.
The following work was carried out;
-All drain risers were replaced with new SML pipes
-All electrical risers have been renewed
-New hot water risers
-New heating risers
-New condensing heating system installed to supply the apartments with heating energy and hot water
-All water pipes were renewed
-All electrical lines in the house and in the apartments were renewed
-capture-proof intercom and bell system installed
-Broadband cable system installed for all apartments
-Wastewater pipes from the house to the street were renewed
-The roof was renewed with double engobed roof tiles
- Supply lines have already been brought up into the attic and prepared so that the attic can be expanded later as follows:
*Water
* Hot water
* Drain
* Electro
* Intercom
* Broadband cable
-Stucco facade was restored
-All windows were renewed with insulating glass windows
- Staircases were renovated
-Linoleum floor in the stairwell was renewed
The apartments were gradually renovated extensively when the tenant changed.
In many apartments, the walls and ceilings have been painstakingly filled, sanded and painted.
The district of Mitte has 101,932 inhabitants (as of June 30, 2019) and includes the postcode areas 10115, 10117, 10119, 10178 and 10179.
Fehrbelliner Straße is in the north of Mitte (Prenzlauer Berg) with the zip code 10119 and is about 934 meters long and the limited maximum speed is 30 km / h.
Local transport:
-Zionskirchplatz: 200m
-Rosenthaler Platz: 300m
-U Rosenthaler Platz: 400m
-Brunnenstrasse / Invalidenstrasse: 400m
-U Rosenthaler Platz: 400m
The infrastructure here is optimal and therefore completely closed.
Others:
For inquiries, we ask for full details of the sender.
Please with address, telephone, fax and email. We ask for your understanding that, without the above information, shipping is unfortunately not possible.
All data and information available to us are based on the information provided by the owner or come from property documents and are given here to the best of our knowledge.
Errors and intermediate sales are reserved.
The legal liability results exclusively from a notarized purchase contract.
Further attractive offers of vacant and rented condominiums and other real estate objects can be found at:
We also have a very good network of financing options for our properties for our customers if the implementation at their own house bank does not fully take effect.
