Multi-family building - 9 apartments - prime location, current yield of 4.6% - no commission + undeveloped attic space.

The sturdy building, constructed in 1930 and divided in 1976, features a reinforced concrete structure with a dry basement, ground floor, 1st floor, 2nd floor, and an attic space on the 3rd floor that can be further developed. Built as part of a housing development, the building 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 to 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 apartments. The hot water supply is provided by electric instantaneous water heaters. As part of modernization work carried out in 2002, tiled bathrooms, modern fitted kitchens, laminate flooring, and cable television were installed in the apartments. Whenever tenants have moved in over the past 10 years, renovations have been carried out as needed, including the installation of spotlights and the replacement of flooring. One bathroom has been converted into a modern shower room. The main utility lines in the basement were also renewed up to the vertical 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 located adjacent to the building on both sides. This has resulted in the tenants paying, on average, only about €1 per square meter for utilities per month, despite the high gas prices, whereas the average in Berlin is closer to €1.5 per square meter. The annual net cold rent is currently approximately €90,000.

If you also purchase and develop the roof, the projected annual net cold rent would be approximately €138,000. As a developer, you would certainly achieve a significantly higher selling price. The two layouts presented in the advertisement are conceptual ideas. It's possible that, through individual sales, you could also sell connected apartments, effectively creating 5-room or 8-room apartments. This is a near unique selling point in Berlin, and could therefore command particularly 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 provides a secure investment. You can also quickly generate liquid funds from this property because the apartments are already divided. For example, when a tenant's lease ends, instead of re-renting the entire apartment, you could sell individual units, which are highly desirable. The well-maintained property has shared communal areas (rubbish collection area, right of way, etc.) with the neighbors at Aroser Allee 104 and Zermatter Straße 5. There has been a notarized division of the property since 2013, meaning that each house can be managed independently and has its own areas within the garden. Only the rubbish collection area is shared.

The property is located on the border between the Wedding and Reinickendorf districts, and the city center is easily accessible in a very short time. Furthermore, the entrance to the A100 highway is only about 5 minutes away. By bike, you can reach the main train station in approximately 20 minutes. Additionally, a beautiful lake, the Schäfersee, is located nearby. Moreover, the noise from the former Tegel airport has been a thing of the past since 2021.

It can be reasonably assumed that this residential location will develop significantly faster than other residential areas in Berlin.