Prenzlauer Promenade

Prenzlauer Berg , Berlin, Germany

Status	Available
Price From	494,500  EUR

 

About the Development

BARGAIN BUY! TENANTED APARTMENT HOUSE - PRENZLAUER BERG

This tenanted apartment house comprises of one commercial and ten residential units over four floors.

City: Berlin
Area: Prenzlauer Berg
Street: Prenzlauer Promenade
Tenanted: yes
Yield: 6.2 %
Type: Apartment Block
Size: 765.76 m²
Price from: 494,500 €

The building which dates back to 1900 is on a plot size of 620 m². The floor area for the commercial and residential units is 200 m² and 566 m² respectively giving a total floor area of 766 m². The apartments have wooden strip floors and heating.

The apartment house has a very attractive yield of 6.2% from a rental income which exceeds 30,000 Euros annually. All the units are tenanted.

The property is located in the ever popular area of Prenzlauer Berg. The local area has a wide range of amenities and facilities and continues to attract significant interest from investors and tenants alike. The local above and below ground station (Schoenhauser Allee) is approx. 1 km.

This property is being sold at the bargain price of only 645 Euros per m². The property requires some modernization which makes it a very interesting investment opportunity.