Ref: 000R0719


District: Berlin-Mitte


Location: Tiergarten/ Moabit


Insider tip… the upcoming Moabit/ Tiergarten area in the district Mitte. Why? A special “Development Plan” for modernization and infrastructure of this area from Berlin’s Senate shows the standing of the location. An upgrade from a medium to a good residential area can be expected. Further on the nearness to Mitte is another positive aspect. The Mitte district contains the historical heart of Berlin and represents in many ways the real centre of the city. Most of the main sights are located within this district, as are most of the political institutions and also many media companies. The available unit comprises a living room, bedroom, one smaller room, fully fitted kitchen, bathroom with bath tub, entrance hall as well as a balcony. Highlight: Parking space included. Don’t miss this investment opportunity!


Specifications:

Apartment is in good condition

Double glazed windows

Light flooded living rooms

Flooring: Parquet; Tiles in the kitchen, bath and entrance hall

Bathroom with bath tub

Fully fitted kitchen

Balcony – orientated to the South

Central Heating

Lift

Parking space

Building is in good condition. Refurbishment works of the building has taken place in the last years incl. façade, stairwell and lift

Medium-good location in the upcoming Tiergarten/ Moabit region (district “Mitte”); near main station (2.5km), Castle Bellevue (2.5km), The Reichstag (3.5km) and Kurfürstendamm (4km). Location with great potential!

Payment:


100% after signing of the notarial purchase contract. Completed - Resale Property


Moabit/ Tiergarten:
With the fall of the Berlin Wall, Moabit's location has changed from a border district of West Berlin to a central district in the reunited city. Due to its proximity to the new Government District, many new buildings are being built there, such as for example the Ministry of Internal Affairs. Tiergarten (German for Animal Garden) is the name of both a large park in Berlin and a neighbourhood within the borough of the district Berlin-Mitte.
The Berlin Mitte district contains the historical heart of Berlin and represents in many ways the real center of the city. Most of the main sights are located within the Mitte district, as are most of the political institutions and also many media companies. The area around “Unter den Linden” is Berlin's primary boulevard and represents the very core of the central Berlin Mitte district. 2001 the eastern district Mitte was joined with the western districts Tiergarten and Wedding (which has nothing to do with the english word). Mitte regained its position as the main transfer point as in June 2006 with the opening of the new main station (Hauptbahnhof), a giant palace of glass and steel, which is at the border of Mitte and Tiergarten.


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 – Fifth Floor (Top Floor)

Rooms (Living Room/ Bedroom): 2.5

Balcony: Yes

Size (approx.): 58.44m²

Year of Construction: 1967

Availability/ Move-in: Immediately / This unit is rented out to friend from the seller. Sale as vacant flat.

Yearly additional costs for landlords: approx. 820 € 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. 1,640 € per year


Expected basic rent: 3,840 € per year (5.47 € per m²) plus 360 € per year for the parking space


Net Yield*: 4.83% (yearly additional costs are considered)


From 70,000 € (incl. parking space)