Shared apartment building - prime location, 4% current yield and 6.13% target yield - no commission fees + undeveloped attic space.

The sturdy reinforced concrete structure, built in 1930 and divided in 1976, features a dry basement, a ground floor, 1st floor, 2nd floor, and an attic space on the 3rd floor that can be further developed. The building was constructed as part of a housing development and comprises nine residential units (all 2-room apartments). Ideally, the apartments have a ceiling height of approximately 2.8 meters. The attic space is significantly higher. The floor plan for the ground floor through the 2nd floor is identical: each floor contains 3 apartments, with the central apartments being approximately 50 square meters, while the apartments on the left and right are slightly larger, at around 55 square meters each. All rooms are separately accessible, making them ideal, for example, as shared accommodation. Hot water is supplied by electric instantaneous water heaters. As part of the modernization measures carried out in 2002, tiled bathrooms, modern built-in kitchens, laminate flooring, and cable television were installed in the apartments. When tenants moved in over the past 10 years, renovations were also carried out as needed, including the installation of spotlights and the replacement of flooring. One bathroom was converted into a modern shower room. The main utility lines in the basement were also renewed up to the risers. Additionally, there is an intercom system available. In 2012, the loggias were converted back into balconies, which makes 102 Aroser Allee stand out in the surrounding area and eliminates a structural defect (the bathroom window opens into the enclosed loggia, leading to mold growth). Furthermore, new insulated plastic windows were installed in all apartments at that time. In 2021, a brand new, modern heating system was installed. Additionally, there are other multi-family buildings adjacent to the property on both sides. This has resulted in tenants paying, on average, only approximately 1 euro per square meter per month for utilities, despite the high gas prices, whereas the average in Berlin is closer to 1.5 euros per square meter. The annual gross base rent is approximately 90,000 euros.

If you were to develop the roof space, the estimated annual gross base rent would likely be approximately 138,000 euros. As a sale transaction, without having to develop the roof space, you could likely sell the property for approximately 3 million euros. The two floor plans shown in the advertisement are conceptual ideas. Because you could also sell connected apartments individually, essentially creating 5-room or 8-room apartments, which is a unique selling point in Berlin and could therefore command exceptionally high sale prices. Holding the property for 5 to 10 years, a doubling of the property's value is not unlikely. However, the rental income also represents a secure investment. You can also quickly generate liquid funds from this property by fully financing the purchase of the entire building and then selling the undeveloped roof space, as it is already divided into two units in the land registry. This could allow you to create several hundred thousand euros in liquid equity, which you can then use to purchase other properties immediately. The well-maintained property has shared facilities (rubbish area, right of way, etc.) with the neighboring properties at Aroser Allee 104 and Zermatter Straße 5. There has been a notarized legal division since 2013, so each house can be managed independently and has its own useable space in the garden. Only the rubbish area is shared.

The property is located on the border of the Wedding and Reinickendorf districts, and the city center is easily accessible in a very short time. Additionally, the entrance to the A100 motorway is only about 5 minutes away. Furthermore, a beautiful lake, Schäfersee, is located nearby. Moreover, the noise from the former Tegel airport has been a thing of the past since 2021.

It is highly likely that this residential area will develop at a significantly faster rate than other residential areas in Berlin.