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Renovation Property For Sale by Auction in Court, Apartment Block to Reconstruct

 

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Multi Family Building to Renovate
Berliner Str. 2
DE 14943 Luckenwalde


 Deutsch
Building Style Detached apartment block with outbuildings
Year of Construction about 1912
Modernization post-1990
Stories 4
Loft Space Not converted (storage for tenants)
Elevator None
Monumental Protection No
Heating Central gas
Energy Certificate Not available
Land Area approx. 681 sqm / 0.17 acre (397 + 284 sqm form an economic entity)
Purpose of Use Housing
Floor Space approx. 389 sqm / 4,186 sq. ft.
Apartment Units 7 x 1 bedroom
Sizes of Units in sqm / sq. ft. ~ 3x 52, 3x 56, 1x 65 / 3x 560, 3x 603, 1x 700
Vacancy 3 (2x 56 + 1x 65 sqm)
Actual Annual Net Rent about EUR 11,583 excluding utilities (as of Feb 1, 2012)
Minimum Auction Price from EUR 35,000 (Subject to higher bids!)
Price per sqm from about EUR 90 (Subject to higher bids!)
Market Value set by Court EUR 70,000
Market Value per sqm about EUR 180
Auction in Court to be held on March 22, 2012
Remark The apartment block is in need of extensive renovation. The outbuildings are in a state of disrepair and partially worth tearing down.
 Pictures of Property
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 Property Location
 Property Details
Lage Luckenwalde is a city in Brandenburg state, Teltow-Fläming county, with a population of about 20,500 at the end of 2010.

It's about 60 km south of central Berlin, about 40 km to the Berlin border and 45 km to state capital Potsdam.

B 101 federal road runs through town. The city of 3 subdivisions is located on the railroad Berlin-Halle-Leipzig, the train station is within walking distance of about 1 km. There are also several bus routes. Both A 10 highway ring and A 13 state highway Berlin-Dresden are about 30 km away.

The former industrial town is one of 15 regional growth cores of Brandenburg state, so some branches of economy get publicly sponsored. Main industries are automotive engineering, metal working, microelectronics, solar technology, tourism, bio technology and food industry.

Besides city park and zoo the county town also has several cultural places, e.g. art gallery, city theater, museum of local history as well as historic and building monuments.

Schools, kindergarten, medical facilities and shopping opportunities are sufficiently available.
Specification The property is located at the edge of a residential area mainly characterized by smaller multi family buildings, about 2 km north of the city center.

All supply connections like drinking water, gas, electricity, municipal sewer line and telephone are available. The land area comprises of 2 plots of land which form an economic entity.

The solid brick building from about 1912 has 4 stories, wooden beam ceilings, wooden stair construction, saddle roof covered with concrete roof tiles and some partially still existing adornments at the front facade. The loft space has not been converted and houses storage compartments of the tenants.

After 1990 the apartment block underwent modernization works, such as the installation of a central gas heating, PVC insulated windows and tiled bathrooms with bathtub and/or stall shower. All apartments have 2 rooms (1 bedroom), kitchen, bathroom and corridor. In some of the units the original wooden floor planks still exist.

The complete building is in poor condition. The facade shows moisture penetration and partial cracks. Furthermore there are leaking windows and in recent times the basement had a water ingress. So the block needs extensive renovation and redecoration works from top to bottom.

The outbuildings in the side and rear portion of the land are in a state of disrepair or partially only worth tearing down. They are just in sporadic use for storage purposes or parking.
Remark The market value set by court is a sum of the value for the portion with the house of EUR 64,000 and the adjacent plot with some outbuildings valued at EUR 6,000. As previously mentioned, the 2 plots of land form an entity. They will not go individually. Wouldn't make sense, anyway.

Renovation and demolition costs have already been considered in the valuation.
Miscellaneous The offer is subject to confirmation and free of commission for the purchaser/bidder.

Details based on statements of the judicial appraisal and the sequestrator (for actual rents). We can't assure their accuracy and/or their completeness. Errors in detail, transmission and translation reserved.
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