Ref: 0000R0723


District: Lichtenberg


Location: Karlshorst


Rented multi family mansion with fantastic potential in regards to capital growth as well as the long term rental income aspect – don’t miss this investment opportunity; purchase price per m²: Only 651 Euro. Located in the mansion colony Karlshorst, often referred as "Dahlem of the East", the building comprises 7 residential units (plus the option to extend one additional unit), and offers the charm of Altbau (Old Building). The corner plot has a size of approx. 719m². The trendy districts Friedrichshain and Kreuzberg as well as the lake “Rummelsburger See” and River Spree are close by. Berlin-Mitte with its Alexanderplatz is approx 8km away.


Specifications:

Units are in well-kept condition (depends on unit)

Typical charm of “Altbau” (Old Building) with high ceilings, stucco etc

Corner plot

Total floors: 4

Various flats with 3-4 rooms (living rooms/ bedrooms); sizes between 73m² and 116m². Current state 7 units (one is vacant due to renovation works); extension for one additional flat (90m² - ground floor) is possible. Partner companies and/or the seller could do these works for you.

Balconies/ Terraces

Self contained central gas-heating; with the exception of one flat which is still heated by stove.

Garden area

Building is in good condition; Refurbishment of the façade has taken place in 2008.

Very good location in Lichtenberg, mansion colony of Karlshorst – Trendy Friedrichshain and Kreuzberg as well as the lake “Rummelsburger See” and River Spree are close by. Berlin-Mitte with its Alexanderplatz is approx 8km away. 20 minutes drive to the International Airport Schönefeld.

Rental Potential:


Current rent per m²: 2.48 €. Berlin’s rent table shows a rent per m² up 6.24 € for this location.


Payment:


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


Borough Karlshorst & District Lichtenberg:


Lichtenberg stretches over 13 kilometres from its most northerly point at the edge of Berlin to Karlshorst in the South and Ostkreuz towards the centre of the main city. The district can be divided into the ten subdistricts of Malchow, Wartenberg, Falkenberg, Neu- and Alt-Hohenschönhausen, Alt-Lichtenberg, Fennpfuhl, Friedrichsfelde, Rummelsburg and Karlshorst.
Karlshorst (literally meaning Karl's nest in German) is a locality in the borough of Lichtenberg in Berlin. Established in 1895 as the Carlshorst mansion's colony, Karlshorst has a Berlin S-Bahn station, which is also served by RegionalExpress trains of the Deutsche Bahn.


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.

Rented Multi Family House (8x Residential Units)

Plot Size (approx.): 719m²

Total Size (approx.): 768m² (Current state 678m²; extension of additional 90m² is possible)

Year of Construction: 1910 (well-kept condition)

Availability/ Move-in: Immediately / Please note: Units are rented out. Rent increase of 20% is immediately possible because the last increase was years ago.

Expected yearly additional costs for the landlord in the future/ House Management: approx. 3,600 € per year


Allocatable overheads like yearly local rates, building insurance etc. are going on top of the basic rent and has to be paid by the tenants.


Current Basic Rent (7 units; one is vacant due to renovation works): 20,160 € per year (2.48 € per m²)


Current Net Yield: 4.03%


Expected Basic Rent (8 units incl. rent increase): 34,000 € per year (3.69 € per m²)


Expected Net Yield: 6.08% (Expected house management fees are considered)