Ref: 000R0709
Current/ Expected net yields*: up to 5.7% (yearly additional costs are considered)
District: Kreuzberg-Friedrichshain
Location: Friedrichshain
Selling quick - don’t miss this investment opportunity with first-class rental potential… purchase prices are between 1,100 € and 2,000 € per m² with net yields up to 5.7%. Located in Friedrichshain (one of Berlin’s trendiest districts), next to the River Spree with its Media Companies MTV and Universal as well as the trendy places like Boxhagener Platz and Simon-Dach-Strasse, these renovated historic buildings offer studios as well as one and two bedroom apartments. The living sizes are ranging between 26.27m² to 116.60m². Students, artists, businessmen and other groups choose this place as their new home. The public transportation connections are excellent.
Specifications:
Apartments have been completely renovated and/or some smaller modernisation works have taken place (according to necessity)
Charm of “Altbau” (Old Building) with high ceilings and partly with stucco
Units with orientation to the courtyard as well as to the quiet back road
Light flooded rooms
Flooring: Parquet, timber floor board and tiles
Most units with balconies
Lift in the Rear Building with direct access to the apartments (as second entrance door)
Gas heating – Heaters in the Front Facing Building and Side Wing; Under-floor heating in the Rear Building.
Courtyard
Buildings are in very good condition. Front Facing Building and Rear Building have been completely refurbished. Side Wing has been refurbished 10 years ago so that only some smaller renovation works have been necessary.
Very good location in Friedrichshain – River Spree with its Media Companies MTV, Universal and other big companies as well as the O2 Arena on the doorstep. The trendy places like Boxhagener Platz and Simon-Dach-Strasse with its bars, cafes and restaurants you reach after approx. 1,300 metres. Trendy Kreuzberg borders directly to this location as well. The well-known Alexanderplatz in Berlin-Mitte is only 4km away. Distance to Schönefeld Airport approx. 16km.
Payment:
100% after signing of the notarial purchase contract. Partly finished - total completion June 2008
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.
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.
Studios, One and Two Bedroom Apartments
Rooms (Living room/ Bedrooms): 1 to 3
Living Sizes (approx.): 26.27m² to 116.60m²
Balcony: Most of the flats have balconies
Year of Construction: approx. 1906
Availability/ Move-in: Sale – Immediately / Please note: Vacant as well as rented units are available.
Yearly additional costs for landlords: approx. 0.90 € per m² (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. 1,80 € per m²
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