REAL ESTATE FOR SALE (€ Euro 117,000)
Apartment for sale in Berlin Tiergarten Moabit Berlin-Mitte Germany

Ref: 0000R0740


Net Yield: 4.87% (yearly additional costs are considered)


District: Berlin-Mitte


Location: Tiergarten/ Moabit


Located in the upcoming borough Tiergarten-Moabit of the district Mitte, this vacant apartment offers a lot of potential – rent it out or use it for yourself during your holidays in Berlin. The unit with its charm of “Altbau” (Old Building) comprises 4 good-sized rooms, kitchen, two bathrooms with bath tub, balcony and two entrances. A special “Development Plan” for modernization and infrastructure of this area from Berlin’s Senate shows the standing of the location. The 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 the Mitte district, as are most of the political institutions and also many media companies. The main station as well as the Castle Bellevue are only 2.5km away.


Specifications:

Apartment is in good condition

Typical charm of Altbau (Old Building) with high ceilings and stucco

Two entrances to the flat

Two bathrooms with bath tub

Good sized and light flooded rooms

Balcony

Flooring: Timber floor board, laminate and tiles

Self-contained central heating

Countersash windows

Lovely communal garden area

The building is in standard condition. Renovation works of the façade and stairwell have to be expected in the future. New house management is in place.

Medium 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.

Three Bedroom Apartment – Second Floor

Rooms (Living/Dining Room and Bedroom): 4

Living Size (approx.): 114m²

Balcony: Yes

Year of Construction: Approx. 1900

Availability/ Move-in: Immediately

Yearly additional costs for landlords: approx. 1,144 € 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. 2,288 € per year


Expected basic rent: 6,840 € per year (5.00 € per m²)


Net Yield: 4.87% (yearly additional costs are considered)