We are happy to offer you a profitable apartment building in Berlin, Pankow district. The object is built on a plot of 1 300 sq. m. and consists of a multi-family house with an area of 610 sq. m. and two residential buildings with an area of 120 sq.m. each.
Year of construction of an apartment building - 1904, it includes 10 apartments. In the period from 2015 to 2018. a major overhaul of the house was made, as a result of which the following work was carried out:
- made a new facade with insulation;
- the roof was replaced, the covering with glazed tiles was installed;
- the staircase has been completely renovated, including floors, railings, doors and walls;
- Completely replaced electrical wiring;
- Made a new heating system.
Also the repair has affected all the apartments, they were completely renovated inside. In particular, the following types of work:
- new floors, including heated floors in all rooms;
- walls are primed and painted;
- installed new interior doors;
- in all bathrooms the plumbing was completely replaced, and on the floors and walls there was a new tile.
The year of construction of two residential houses is 1998. The condition of the houses is good, they did not need to be repaired.
All apartments and houses are rented out for a long-term lease for 25 years, with the option of rent increase (increased annually by about 2,340 euros).
Price - 3 450 000 euros
Total area - 850 sq. m.
Rental income - 94 512 euro / year (listed as of 2019, increasing annually)
Profitability - 2,7%
The house has a good location. In 10 minutes you can reach the center of East Berlin (Prenzlauer Berg district), Alexanderplatz is 15 minutes away, the Brandenburg Gate is 20 minutes away. Near the house are numerous supermarkets, schools and kindergartens.
Berlin is the capital and largest city of Germany, the second most populous (after London) and the fifth largest city in the European Union. It is one of the 16 lands in the Federal Republic of Germany. The city is located on the banks of the rivers Spree and Havel. Today, Berlin is a world cultural center. This is a major European transport hub and one of the most visited cities on the continent. Universities, research institutes and museums of Berlin are known all over the world. Artists, diplomats and immigrants from all over the world live and work in the city.
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Do not miss the opportunity to purchase a profitable apartment building in Berlin!