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Apartment Block Berlin Mitte for Sale in Sub-Area Wedding

 

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Apartment Block in African Quarter
Guineastr 2
DE 13351 Berlin

 Deutsch
Kind of Property Multi Family Building
Year built around 1900
Modernization Step-by-step
Energy Certificate 106 kWh/(sqm*a) based on consumption excl. hot-water
Stories 5
Residential Units 20
Commercial Units 2
Living Space about 1,213 sqm / 13,052 sq. ft.
Commercial Space about    154 sqm /    1,657 sq. ft.
Total Floor Space about 1,367 sqm / 14,709 sq. ft.
Lot about 520 sqm / 0.13 acre
Vacancy 1 Commercial (Shop), 1 Apartment (currently storage area)
Actual Anual Net Rent about €   70,224
Target Annual Net Rent about €   74,314
Sales Price € 995,000
Price per sqm € 728
Cap Rate          Actual / Target about 14.2-times / 13.4-times
Rental Yield     Actual / Target about 7% / 7.5%
Visual Impressions
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Property Location
Further Details
Location The property is located in administrative Berlin district Mitte, sub-area Wedding, in a neighborhood called "African Quarter". Public parks Goethepark and Rehberge are close by. Shopping possibilities are around, mainly on Müllerstr., which is just a short walk of 5 min away. There is also a movie theater, restaurants, cafés and medical facilities around. The hospital Virchow Klinikum and the lake Plötzensee are in convenient walking distance of 5 to 8 minutes.
Traffic Links The location benefits from excellent public transportation and traffic links. Bus and streetcar stops are only about 150 m away, subway station Seestr. (U6) about 500 m, A 100 inner city highway about 1.1 km and the squares Breitscheidplatz and Alexanderplatz each about 5 km from the place.
Description It's a classic Berlin apartment block comprising of front and rear building. The solid brick construction with basement was built around 1900 and has no elevator. The loft space has not been converted so far and might offer potential to increase the rentable space.

On ground floor of the front building are two commercial units (1 vacant), but the complex mainly shows residential use. Modernization has been done regular, e.g. the stairways was renovated and painted in a friendly light-yellow color. The floorings of the stairways are covered by durable linoleum.

The windows of the apartments are mostly wooden double box windows, partially also PVC insulated. The units mainly have individual gas heating systems, door opener incl. voice intercom system and TV cable connections. The features of the units do vary, some have sanded or painted wooden floorboards, some come with laminate or carpet floors. The smaller units have shower baths and the larger units full bathrooms with tub. The kitchens usually have electric stove and sink.

The living space ranges between 40 to 103 sqm / 430 to 1,108 sq. ft. in size, studio to three-bedroom apartments.
Miscellaneous The offer is subject to confirmation and free of commission for the buyer.

Details based on statements of the owner and the house management company as well as visual impressions on-site. We can't assure for their correctness and/or their wholeness consequently. Errors in details and transmission as well as mistranslations reserved.
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