Multi-family house with 19 vacant apartments, renovated old building, sought-after residential area in Prenzlauer Berg, further expansion potential + 260 m2 (roof blank + basement)*German : This exposé is available in German, English and Russian.Social Media:https://www.instagram.com/avimmobilienberlin/https://www.facebook.com/avimmobilienberlin/ The apartment building offered here is located in 10119 Berlin-Mitte (Prenzlauer-Berg) and was built around 1890.The property has a size of 486 m2, and a currently rentable total living space of approx. 1,186 m2. In addition, there is the additional area of the roof blank with about 200 m2, which can be expanded as a potential additional living space. The basement with an area of about 60 m2 can be developed and used commercially or for residential purposes under certain circumstances, as the appropriate ceiling height is available as required by law.These are interesting, expandable and thus value-adding potentials that will have an impact on further rental income and the overall value ratio of the property.The total area that can then be rented out amounts to about 1,446 m2 of living space.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 an area of approx. 60 m2 can be converted and used for commercial or residential purposes under certain circumstances, e.g. an additional rental to a craftsman at a daily rate or similar use or another apartment tenant would be conceivable.In any case, the basement was apparently used in the past. Appropriate connections for the sanitary facilities, among other things, are already available.With the exception of two residential units from the entire portfolio of 19 apartments that are still rented, all of them have successively become vacant for occupancy. The last two apartments will be vacated in the course of this year, corresponding agreements have been made with the tenant.This multi-family apartment building has been owned by the same owner for about 25 years and has recently been completely divided (declaration of division).An energy performance certificate is available.The building has been in the possession of the seller for a long time, who was NOT presented with complete floor plans at the time of purchase 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 buildingThe residential building was recently 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 roomsThere are no balconies and no elevator yet, but they can be retrofitted accordingly as in the neighboring houses and promise further value potential.The space for these extensions and conversions is available.The building permit will be granted according to the owner.Fitted kitchens are available in each of the individual apartments.The house or the stucco façade is not subject to monument protection.The central heating and water supply are powered by natural gas.The technical condition of the individual apartments is very good, the furnishings uniformly normal.Stucco in the apartments is not available.For the expansion of the roof blank and the existing basement, the rental income ratio is generated correspondingly even higher, and therefore the return.According to economic calculations, the removed roof blank can bring in an additional annual income of at least € 50,000 and the basement can bring in an additional € 8,000 according to the extension and conversion.According to the owner, the roof blank will be granted a building permit.In total, the entire rental property can then bring in an annual income of about € 300,000.00 - € 350,000.00.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 furnishings to be updated.No easements are entered in the land register excerpt.The management of the apartment building is taken over by the owner himself.Any repairs, among other things, were always paid for by the owner from his own cash flow, which were covered by the full rental level and the very good rental income.As a result, there is no economic plan, and the redistribution is carried out in accordance with the legal requirements. The apartment building real estate complex offered here was built in 1890 and extensively renovated in the years 1998-2020.The following work was carried out;-All drain risers have been replaced with new SML pipes-All electric risers have been renewed-New hot water risers -New heating risers-New condensing heating system installed to supply the apartments with heating energy and hot water-All water pipes have been renewed-All electrical wiring in the house and apartments has been renewed-tap-proof intercom and bell system installed-Broadband cable system installed for all apartments-Sewage pipes from the house to the street have been renewed-The roof has been renewed with double engobed roof tiles-Utilities have already been routed up into the attic and prepared to be able to convert the attic later, as follows:*Water*Hot water*Drain*Electric*Intercom*Broadband cable-Stucco façade has been restored-All windows have been renewed with insulating glass windows-Stairwells have been renovated-Linoleum floor in the stairwell has been renewedThe apartments were gradually extensively renovated when the tenants changed.In many apartments, the walls and ceilings were elaborately filled, sanded and painted. The Mitte district has 101,932 inhabitants (as of June 30, 2019) and includes the postcode areas 10115, 10117, 10119, 10178 and 10179.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 limit here is 30 km/h.Local traffic:-Zionskirchplatz: 200m-Rosenthaler Platz: 300m-U Rosenthaler Platz: 400m-Brunnenstraße/Invalidenstraße: 400m-U Rosenthaler Platz: 400mThe infrastructure here is optimal and thus completely complete. *Those interested in this ad:For enquiries, we ask for complete sender details. Please include address, telephone, fax and e-mail. We ask for your understanding that shipping is unfortunately not possible without the aforementioned information.All data as well as information available to us are based on the information provided by the owner or 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 notarized purchase contract.*Do you want to sell your property?We may already have a buyer for you, as our customer network has stored the corresponding search profiles, both nationally and internationally.We accompany you professionally with your property in all technical and legal processes related to the sale of your property.We use our experience to advise you on the realistic valuation of your property and the joint determination of the purchase price. Of course, we accompany you through the sales process until the handover of the property.*You can find more attractive offers of vacant and rented condominiums and other real estate properties at:www.av-immobilien-berlin.deWe also have a sustainable network of financing options to support our clients in relation to our properties.You are also welcome to contact me directly by phone at +49(0)176-84055531.Aleksander Vukas, Real Estate Specialist, Real Estate EconomistAV Immobilien Berlin - Real Estate Consulting & Agency
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