Residential and commercial building / Block of 7 apartments - package deal. /This is a typical old Berliner style residential unit which was built in 1908 and consists of 28 apartments and one commercial unit which is a drugstore. There is a front, side and back building with apartments ranging from studios to 3 bedroom apartments. The entire building is tenanted.

All apartments were renovated and refurbished 10 years ago and are equipped with gas central heating. According to location of apartments, some have balconies and others have a view of the green courtyard which is located between the front and the back building.

It is located on a through road with buildings left and right which have been renovated and refurbished. The building to the immediate left will be refurbished in approx. half a year.


1 tenant is residing in apartment since 1988.
Other 6 apartments have new rental agreements since 2006 + 2007. All indefinite agreements, no backlog in rents - all decent tenants.


• 28 apartments in total
• 01 commercial unit – chemist
• tenanted space: 1,734 sqm
• 4 storey building
• year built: 1908


Location

The property is located in Pankow – Niederschoenhausen which is north of the Pankow Townhall and is a very popular and sought after neighbourhood with parks and green areas. The infrastructure in the neighbourhood is very good with shopping facilities for everyday needs, educational facilities and support centers.

Public transportation is good and there is easy accessibility to travel to the city centre by bus or tram to the main commuter trains at S-Bahn Pankow and S-Bahn Wilhelmsruh within a few minutes.


Purchase price: € 1,584,700.00
+ 7 % buying costs: € 110,929.00 (stamp duty, notary, land registry, legal)
Total purchase price: € 1,695,629.00


Gross rental income per annum: € 96,268.32
Gross yield: 6.07 %
Property management fee: expect approx. € 500 + 19 % VAT per month for a good property management.


PLEASE CONTACT OUR OVERSEAS DEPARTMENT FOR FURTHER DETAILS ON 01-6771188.