Ref: 000R0689
Expected net yield*: 4.55% (yearly additional costs are considered)
District: Kreuzberg-Friedrichshain
Location: Friedrichshain
Don’t miss this investment opportunity – a rented apartment for sale amidst of one of Berlin’s trendiest districts… in Friedrichshain! Here you find mainly renovated historic buildings with attractive facades. Fashionable bars and restaurants have opened, along with organic supermarkets, always a sign that affluent and responsible young professionals have moved in. Students, artists, businessmen and other groups choose this place as their new home. Friedrichshain is now also home to numerous design and media companies including MTV Central Europe. The public transportation connections are excellent. Distance to Schönefeld Airport approx. 16km. The living size of approx. 80m² offers a living room, master bedroom, small room (office or for a child), eat-in kitchen as well as a good-sized bathroom.
Specifications:
Apartment is in good condition
Charm of “Altbau” (Old Building) with high ceilings
Orientated to the quiet courtyard as well as to the road
Eat-in kitchen
Tiled bath with bath tub
Flooring living room/ bedrooms/ kitchen: Laminate; one room with timber floor board
Storage rooms in the kitchen and hallway
Self-contained gas heating
Communal roof terrace
Green Courtyard
Building is in good condition. Refurbishment works has taken place over the last years (incl. façade). Currently the renovation of the stairwell is in process.
Very good location in Friedrichshain – next to the trendy places like Boxhagener Platz and Simon- Dach-Strasse with its bars, cafes and restaurants (approx. 800 metres). The well-known Alexanderplatz in Berlin-Mitte is only 3km away. Distance to Schönefeld Airport approx. 16km.
Payment:
100% after signing of the notarial purchase contract.
Friedrichshain:
Friedrichshain is a part of Berlin's borough of Friedrichshain-Kreuzberg. From its creation in 1920 until an administrative reform in 2001 it was a freestanding city borough. Formerly part of East Berlin, it is a central borough, adjacent to Mitte, Prenzlauer Berg, Kreuzberg and Lichtenberg. The district is named after the Volkspark Friedrichshain, a vast green park located at the north border to Prenzlauer Berg.
After the fall of the Berlin Wall in November 1989 and German reunification the following October, Friedrichshain began to develop a reputation as a young, dynamic district.
Alongside the neighboring districts of Mitte, Prenzlauer Berg, and Kreuzberg, Friedrichshain is now considered one of Berlin's most fashionable areas, and is home to numerous design and media companies including MTV Central Europe. It is known for its many bars, clubs, pubs, and cafes, concentrated in the vicinity of Simon-Dach-Straße and Boxhagener Platz.
Berlin:
The capital of Germany is dynamic, cosmopolitan and creative, allowing for every kind of lifestyle. East meets West in the metropolis at the heart of a changing Europe.
After experiencing a staggering drop in housing prices since the early 90s, Berlin’s property market is springing back to life. No other property market in Europe offers such undervalued property prices and a solid rental market.
Rental Potential:
The trend goes to properties which are situated in medium/good locations near the town centre.
Berlin: 88% of the habitants are renting properties - 12% are property owners.
Germany has a strong rental culture and tenants tend to live in a property for many years. Therefore, they treat rented property as if it was their own, and this works to the advantages of the owner. Property is let without furniture so tenants must provide their own. This situation might seem a good prospect for investors looking for regular income while they wait for their property to appreciate.
1.5 Bedroom Apartment – First Floor – Front Facing Building
Rooms (Living room/ Bedrooms): 2.5
Living Size (approx.): 80m²
Year of Construction: 1907
Availability/ Move-in: Sale – Immediately / Please note: The unit is rented.
Yearly additional costs for landlords: approx. 716 € per year (no allocatable overheads)
Allocatable overheads like yearly building insurance, housekeeping etc. are going on top of the basic rent and has to be paid by the tenants: approx. 1,432 € per year
Current basic rent: 5,400 € per year (5.63 € per m²)
Current net yield*: 4.07% (yearly additional costs are considered)
Expected basic rent in the future: 5,942 € per year (6.19 € per m²)
Expected net yield*: 4.55% (yearly additional costs are considered)
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