This is a beautifully kept large apartment located on the first floor of the garden building, a listed building from 1907 right beside the Kurfurstendamm at the GOOD end of this street (near Olivaer Platz). It offers all the typical Altbau characterstics: large rooms, high ceilings, stucco decoration, decorative brass door fittings etc. In total there are four nicely sized rooms plus one small room (indicated as .5 which is less than 10 sqm), large kitchen, bathroom, and balcony (facing west).
The tenants have been living here for many years and have kept it in perfect condition, renovating it regularly and taking care of any small repairs. The husband is handicapped, which means that he is particularly protected as a tenant by German tenancy law. But they have been very good tenants in the past, and have also agreed to every increase in rent (20% over the past 3 years).
Rental income (as of May 1, 2008) net cold per month is € 857,73 (i.e. € 10.292,76 per year). Rent is currently below mietspiegel and can be legally increased to 930 in accordance with German law. But this is one of the rare locations in Berlin where you charge the market rate. The nax official amount is 6.89 per sqm but there are similar apartments renting for more than 10 EUR per sqm - this is a location where the demand outweighs the supply.
Just across the road is the Walter-Benjamin-Platz with its italian style. There are several lively cafés and restaurants around this area and on Saturdays there is the market offering all kinds of delicacies. Walter-Benjamin-Platz did not exist until about 6 years ago, when the German architect Kollhoff built the two large commercial and residential buildings to the right and left and created a square with a fountain on the empty space in between. There are 2 very good and renowned restaurants (1 on either side) and an "old ladies Kaffee-&-Kuchen-Café (which actually is an antique shop) plus approx 4-5 other stores on the ground floor of these two buildings, but the real shopping area of course, is Kurfürstendamm.
In addition this apartment is between 2 hotels, the Alexandra and the Ingeborg wich are both well reviewed in tripadvisor and German review sites.