District: Berlin-Mitte


Location: Tiergarten


Located in the upcoming area of the “Stephanskiez”/Tiergarten in the district Mitte, this one bedroom apartment offers a great investment opportunity. A special “Development Plan” for modernization and infrastructure of this area from Berlin’s Senate shows the standing of the location. Here you or your tenant can enjoy the typical charm of “Altbau” (Old Building) with its high ceilings! The 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.


Specifications:

Unit is in good condition – some smaller cosmetic repairs would grade up the unit

Reformation works in regards to a new distribution of the bath would make this unit more attractive if you want to use it as residential unit.

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

Flooring: Laminate

Central heating

Well-kept courtyard

Redevelopment of the building incl. stairwell, façade, courtyard etc. over the last years (well-kept condition)

Medium-good location in the upcoming Tiergarten/ Moabit region (district “Mitte”); near main station, Schloß Bellevue (Castle) – 2km and The Reichstag – 2.5km. Approx. 4.5km to the well-known Friedrichstrasse as well as the Kurfürstendamm. Location with great potential!

Payment:


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


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. Here you find mainly buildings in Wilhelminian style.
Tiergarten - 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.

One Bedroom Apartment – Ground Floor – Front Facing Building

Rooms (Living/Dining Room and Bedroom): 2

Living Size (approx.): 71.70m²

Year of Construction: Period of Promoterism

Availability/ Move-in: Immediately

Total running costs: 2,436 € per year

Yearly additional costs for landlords: approx. 812 € 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. 1,624 € per year

Expected basic rent: 4,517 € per year (5.25 € per m²)


Net Yield: 5.33% (yearly additional costs are considered)


From 69,500 €