Apartment building with 19 flats ready for occupancy, renovated old building, sought-after residential area, further development potential + 260 m2

Description short

Apartment building with 19 flats ready for occupancy, refurbished old building, sought-after residential area in Prenzlauer Berg, further potential for expansion + 260 m2 (roof void + basement).

*english : This Expose is available in German, English and Russian language.

Description

The apartment building offered here is located in 10119 Berlin-Mitte (Prenzlauer-Berg) and was built around 1890.
The property has a size of 486 m2, and a currently rentable total living space of approx. 1,186 m2.

In addition, there is a roof void of about 200 m2 which can be converted into further living space.
The basement with an area of about 60 m2 could possibly be converted and used commercially or for living, as the corresponding ceiling height is available as provided by law.
These are interesting, expandable and thus value-creating potentials that will have an effect on further rental income and the overall value ratio of the property.
The total area that could then be rented out amounts to approximately 1,446 m2 of living space.

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 in accordance with 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 apparently used in this way in the past.
Corresponding connections, among others for the sanitary facilities, are already in place.

With the exception of two flats that are still rented out of the total stock of 19 flats, all have gradually become vacant.
The last two flats will be vacated in the course of this year; corresponding agreements have been/will be made with the tenant.

This apartment building has been owned by the same owner for about 25 years and has recently been completely divided (declaration of partition).
An energy certificate is available.
The building has been owned by the seller for a long time, who was NOT provided with complete floor plans at the time of purchase and thus no new ones were created in the further course.

In total, the building offers 19 residential units with 44 rooms as follows;
10 flats are located in the side wing
9 flats are in the front main building

The residential building was recently 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 no lift yet, but as in the neighbouring houses, these can be retrofitted accordingly and promise further value potential.
The space for these extensions and conversions is available.
According to the owner, planning permission will be granted.

Fitted kitchens are available in each of the flats.

The house and the stucco facade are "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.

For the extension of the roof blank and as well as the existing basement the rental income ratio generates itself accordingly still higher, and therefore the yield.
According to economic calculations, the extended roof void can bring in an additional annual income of at least € 50,000 and the basement, according to the extension and conversion, an additional € 8,000.
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 owner himself is responsible for the management of the apartment building.
The owner always paid for any repairs, etc. from his own cash flow, which was covered by the full rent level and the very good rental income.
Consequently, there is no business plan; redistribution is carried out according to the legal requirements.

Equipment

The multi-family house offered here was built in 1890 and extensively renovated in the years 1998-2020.
The following works were carried out;

-All drainage risers were renewed with new SML pipes.
-all electrical risers were renewed
-New hot water risers
-New heating risers
-New condensing heating system installed to supply the flats with heating energy and hot water.
-All water pipes were renewed
-All electrical lines in the house and in the flats were renewed.
-Secure intercom and bell system installed
-Broadband cable system installed for all flats
-Sewage pipes from the house to the street were renewed.
-The roof was renewed with double engobed roof tiles.
-Supply lines have already been run up into the attic and prepared so that the attic can later be converted, as follows:
*Water
*Hot water
*drainage
*electric
*intercom
*broadband cable

-Stucco facade was restored
-All windows were renewed with insulating glass windows
-Staircases were renovated
-Linoleum floor in the staircase was renewed

The flats were gradually and extensively renovated as tenants changed.
The walls and ceilings of many flats were extensively filled, sanded and painted.

Location

The district of Mitte has 101,932 inhabitants (as of 30 June 2019) and includes the postcodes 10115, 10117, 10119, 10178 and 10179.

Fehrbelliner Straße is located in the north of Mitte (Prenzlauer Berg) with the postcode 10119 and is about 934 metres long and the limited speed limit here 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 fully completed.

Others

*Interested parties of this advertisement:
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:
www.av-immobilien-berlin.de
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.
*You would like to sell your property?
We may already have a buyer for you, as our customer network has stored the corresponding search profiles both nationally and internationally.
We accompany you with your property professionally in all technical and legal procedures around the sale of your property.
We use our experience to advise you on the realistic valuation of your property and the joint determination of the purchase price.
Of course, we accompany you during the sales procedure until the handover of the property.*
You can also call me directly on +49(0)176-84055531
Aleksander Vukas, real estate specialist, real estate economist
AV Immobilien Berlin - Real Estate Consulting & Agency

Outdoor amenities

  • true  Balcony  
  • true  Toilets  
  • true  cellar  
  • true  Garten/mitbenutzung  

final energy

    Not subject Energy Performance European


    Not subject Gas European

energy certificate

  • energy efficient:  consumption certificate
  • final energy:  1623.10 kWh EP / m2, year
  • energy efficiency:  0.00 kWh/(m²*a)
  • Energy efficiency class:  -
  • year of construction:  1890
  • Heating:  Zentralheizung
  • Significant energy exchanger:  Gas Light
  • legally required information energy certificate:  Energy proof is available for the building
  • Creation Date:  from 1 May 2014 (EnEV 2014)
  • Energy certificate valid until:  30.05.2030

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Plan image


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    Overview

    Object number: 339

    Living area: 1.186 m2

    Rooms: 0

    Office space: 0 m2

    Store space: 0 m2

    Sales area: 0 m2

    Hall space: 0 m2

    Storage space: 0 m2

    Dining area: 0 m2

    Subarea: 260 m2

    total area: 1.446 m2

    Zip code: 10119

    City: Berlin

    County: Berlin

    Area:   über 250m²  

    Bathrooms: 0

    Bedrooms: 0

    Sale price: € 10.500.000

    Rent price (incl.): € 0

    Rent price (excl.): € 0

    Ownership:   Agent  

    Agent Fee: 7,14 % Brutto vom beurkundeten Kaufpreis vom Käufer zu zahlen

    true  commission

    storey: 0

    floor: 0

    number of bedrooms: 44

    number of bathrooms: 19

    number of separate toilet: 0

    Usable area: 260 m2

    Vacant from: Wohnungen sind praktisch alle sofort bezugsfrei, Neuvermietung nach Erwerb

    Garage / parking space purchase price: 0 €

    Garage / parking space:   Empty  

    Object state:   Saniert  

    Last modernization/ renovation: 2020

    true  Suitable as a vacation home

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    Company details

    Show agent contact details
    Tel: +49 (0) 176- 840 555 31
    Email: av@av-immobilien-berlin.de
    Office hours: 09.30-20.00
    We are an active Berlin real estate company in Germany and abroad with many years of hindsight and experience in "buying and selling, projecting, brokering, management consulting" of properties and real estate of all kinds.
    We take care of all official, technical and legal matters concerning real estate.
    For the high-quality presentation of a property, we create and offer virtual 360° online inspections using high-end equipment, as well as special outdoor images using drone photography.
    Our seller and buyer clientele are private individuals, family businesses as well as commercial company sizes, also with corresponding portfolio holdings.

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