Multi-family residential building, sustainable investment in a good Berlin location, further expansion potential in the Dachrohling

€14,500,000

Berlin, Fehrbelliner Straße

House with flats • 44 Bed. • 19 Bath. • 1186.09 m² • Ground floor • Ref: 237

Multi-family residential building (MFH) with 19 well-rented residential units, divided, sustainable investment property in a good location of Berlin-Mitte, further POTENTIAL with generous roof blank for expansion as well as a partial commercial / residential in the basement, elevator and balcony extension possible *german: This expose is available in German, English and Russian. *english: This Expose is available in German, English and Russian language. *русский: Этот Expose доступен на немецком, английском и русском языкe. Link: https://portal.av-immobilien-berlin.de/index.php/property/237/

The MFH real estate offered here is located in 10119 Berlin-Mitte (Prenzlauer-Berg) and was built around 1900. The plot has a size of 486 m2, and a currently rentable total living area of approx. 1,186 m2. In addition, there are the areas of the roof blank with about 200 m2 which can be expanded, and the basement with about 60 m2 area which may be used commercially or for living, as corresponding legally regulated ceiling height is available. These are interesting, expandable and thus value-adding potentials that have an impact on further rental income and the overall value ratio of the property. The total area then possible for rent amounts to 1,392 m2. The area there was a redevelopment area until about 2014.The house was thus released from the renovation. The compensation or redemption contributions under renovation law were paid by the owner in accordance with BauGB §154. The basement with approx. 60 m2 area can possibly be converted and used commercially or for living, e.g. an additional rental to a craftsman at the daily rate or similar use or another apartment tenant would be conceivable. In any case, the basement used to be used that way (you can see it on the existing old wallpaper). Corresponding connections are available, among other things, for the sanitary facilities. Except for 4 residential units from the entire stock of 19 apartments, the leases are regularly rented for a limited period of time, so that the leases can be changed on request or terminated at short notice. The tenant structure is young to medium, which means that these people are in professional life and have to take up another job and move from time to time. This MFH apartment building has been owned by the same owner for about 25 years and has recently been fully divided. An energy performance certificate will still be issued by the owner. The building has long been owned by the seller, who at that time was presented with NO floor plans at the time of acquisition and therefore no new ones were created in the further course. In total, the building offers 19 residential units with 44 rooms as follows;10 apartments are located in the side wing 9 apartments are located in the front main building The residential building has recently been divided into individual apartments (declarations of division)The apartments are divided as follows:-14 apartments with 2 rooms each- 4 apartments with 3 rooms each- 1 apartment with 4 rooms There are no balconies and elevators yet, but as in the neighboring houses, they can be retrofitted accordingly and promise further potential. The space for these extensions and conversions is available. The building permit will be granted according to the owner. The fitted kitchens are rental objects (property of the seller), which are renewed again and again accordingly. The house or house. the stucco façade is "not" subject to monument protection.The central heating and the central water supply are operated with natural gas. The technical condition of the individual apartments are very good, the equipment evenly aligned normally. Stucco in the apartments is not available. The rental income of the 19 residential units forms an annual income of € 237,000.Currently, 6 residential units are already vacant and ready for re-letting. For the removal of the roof blank and the existing basement, the rental income ratio is correspondingly higher, and therefore the return.According to economic calculations, the removed roof blank can bring in a further annual income of at least € 50,000 and the basement according to the expansion and conversion another € 8,000 additionally. According to the owner, the roof blank will receive a building permit. Overall, the entire rental property can then bring in an annual income of about € 300,000.00. A possibly even higher income depends on the design and equipment of the additional areas, as well as the possible balcony extensions and elevator.There is also further potential in the existing rental apartments, depending on the higher quality equipment to be updated. No easements are entered in the land register extract. The management of the apartment building is taken over by the owner himself. Any repairs, among other things, are paid for by the owner from his own cash flow, which are covered by the very good rental income. As a result, there is no economic plan, the redistribution takes place according to the legal requirements. The complete and original exposé can also be viewed directly on our website under the following link and in other languages. Link: https://portal.av-immobilien-berlin.de/index.php/property/237/

The MFH property was extensively renovated in the years 1998-2020. The following work was carried out; -All drainage risers were renewed by new SML lines-All electric risers were renewed-New hot water risers -New heating risers-New condensing boiler heating system installed to supply the apartments with heating energy and hot water-All water pipes were renewed-All electrical lines in the house and in the apartments were renewed-tap-proof intercom and bell system installed-Broadband cable system for all apartments installed-Sewage pipes from the house to the street were renewed-The roof was renewed with double engobed roof tiles-Supply pipes were already led up into the attic and prepared to be able to expand the attic later, as follows:*Water*Hot water*Drain*Electric*Intercom*Broadband cable -Stucco façade was restored-All windows were renewed by insulating glass windows-Stairwells were renovated-Linoleum floor in the stairwell was renewed The apartments were gradually extensively renovated when tenants changed. In many apartments, the walls and ceilings were elaborately filled, sanded and painted.

The district Mitte has 101,932 inhabitants (as of 30 June 2019) and includes the postal code areas 10115, 10117, 10119, 10178 and 10179. The Fehrbelliner Straße is located in the north of Mitte (Prenzlauer Berg) with the postal code 10119 and is about 934 meters long and the limited speed here is 30 km / h. Local traffic: -Zionskirchplatz: 200m -Rosenthaler Platz: 300m -U Rosenthaler Platz: 400m -Brunnenstraße/Invalidenstraße: 400m -U Rosenthaler Platz: 400m The infrastructure here is optimal and thus completely completed.

For inquiries, we ask for complete sender information. Please include address, telephone, fax and email. We ask for your understanding that shipping is unfortunately not possible without the aforementioned information. All data and information available to us are based on the information provided by the owner or owner. originate from property documents and are reproduced here to the best of our knowledge. Errors and prior sale are reserved. The legal obligation arises exclusively from a notarially concluded purchase contract. We also have a very good network of financing options for our customers for our properties if the realization at our own house bank is not sufficient. Additional: On inquiries from investors and investors for investment properties, residential and commercial properties, hotel complexes, large objects, project planning and realization around the property, we can provide you with the appropriate information from our wide off-market offer, depending on the topicality. You are also welcome to reach me by phone directly at 0176-84055531. Aleksander Vukas, Real Estate Specialist, Real Estate Economist AV Immobilien Berlin - Real Estate Consulting & Agency

Spaces

Bedrooms44
Bathrooms19

Surfaces

Living1186.09 m²
Land486 m²
Total1446 m²

Fehrbelliner Straße, Berlin

TypeHouse
ConditionGood condition
Construction year1890
Energy efficiency rating
G
1623