Niemetzstr.

Neukoelln, Berlin, Germany

Status	Available
Price From	776,000  EUR

 

About the Development

Tenanted Apartment House With 7% Yield in Neukoelln

This bargain price apartment house in Neukoelln offers a terrific yield of 7.0% at a purchase price of only 632 Euros per m².

City: Berlin
Area: Neukoelln
Street: Niemetzstr.
Tenanted: Yes
Yield: 7.0%
Type: Apartment Block
Size: 1228 m²  
Price from: 776,000 €   

The property which dates back to 1900 has been completely refurbished internally. The building comprises of 21 residential (1120 m²) and 1 commercial unit (108 m²) with a total floor area of 1228 m². The five storey property is on a plot size of approx 500 m².

The actual, annual rental income exceeds 54000 Euros which equates to a 7% yield, however, with a rental increase a yield of 7.7% is achievable.

The fully tenanted property was refurbished in 2007 and comprises of a front building and two side wings. The building has retained a number of period features. Some of the apartments have balconies and all have central heating.

The property is quietly situated between the two main thoroughfares of Karl Marx Strasse and Sonnenallee. There are rail services available locally at Sonnenallee which is only 450 metres away. This attractive residential area also has a wide range of local shops and cafes. Furthermore the recent closure of the nearby Tempelhof airport has added significantly to the desirability of the area.

This property is a real bargain.............