Ref: 000R0700
District: Charlottenburg-Wilmersdorf
Location: Charlottenburg
This flat will not be a long time on the market. What a location… this partly furnished 1 bedroom apartment is situated in Berlin’s most popular residential area Charlottenburg, in a quiet back road next to the River “Spree” with its hiking trails, near the “Ernst-Reuther Platz“ as well as the Technical University etc.! The well known shopping road Kurfürstendamm is approx. 2km away. The flat with its charm of “Altbau” (Old Building) is in good condition and includes a kitchen, bathroom, living room and bedroom incl. a separate sleeping niche for a guest (situated over the corridor). It offers many possibilities… rent it out permanently or to holiday makers or use it for yourself. The public transportation connections are excellent.
Specifications:
Apartment is in good condition – completely renovated in 2002 incl. electricity, windows etc.
South facing apartment with light-flooded rooms
Typical charm of Altbau (Old Building): Stucco, high ceilings (3.50m) and timber floor board
Partly furnished - Inventory: Metal sink (incl. underpart), Gas stove, Cupboard with 2 drawers, width: approx. 1 meter with wall cab, Broom cupboard, Shelves (Metal), Fridge ***, Coatrack, Lamella curtains, Studio Couch, Sideboard + Glass Cabinet, Carpet, All wall & ceiling lamps
District Heating
Lovely green courtyard
Renovation works of the building has taken place over the last years (well-kept condition). Redevelopment of the building roof in 2005. Refurbishment of the cellar has been agreed in the last owners meeting (costs are covered through sinking fund and an extra payment from the current owners – it doesn’t affect the new owner). Currently the house community restock the sinking fund so that the monthly running costs are higher.
Payment:
100% after signing of the notarial purchase contract. Completed - Resale Property
Charlottenburg:
Charlottenburg is situated north of the famous Kurfürstendamm (Town Centre West), one of Berlin's major shopping areas that developed in the West during the years that Berlin was divided. Charlottenburg is together with Zehlendorf the wealthiest part of Berlin as well as the most popular residential location. The region has a number of famous landmarks, perhaps the best known being Schloss Charlottenburg, an elegant palace commissioned in 1695 by Queen Sophie Charlotte.
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 Bedroom - Ground Floor – Rear Building - Apartment Specification
Rooms (Living/Dining Room and Bedroom): 2
Living Size (approx.): 48.36m²
Year of Construction: 1904 (in well-kept condition)
Availability/ Move-in: Immediately
1. Current Total Running Costs: 2,632 € per year
Yearly costs for landlords: approx. 1,523 € 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. 1,109 € per year
Net Yield*: 4.33% (yearly additional costs are considered)
2. Prospective Total Running Costs: approx. 1,809 € per year
Yearly costs for landlords: approx. 700 € 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. 1,109 € per year
Net Yield*: 5.80% (yearly additional costs are considered)
Running costs for the landlord are currently higher because the house community restock the sinking fund.
Expected basic rent: 3,946 € per year (6.80 € per m²).
From 56,000 €
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