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French leaseback property

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Prenzlauer Berg - nice apartment - good location

main development picture from berlin property
Front of building
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Danziger Strasse (2)
Germany,Prenzlauer Berg ,Berlin

1 room - 44.9 sqm - 63,700 EUR
Current cold rent 345.12 EUR per month
30 EUR pr month for management and maintenance

Commission : 4% + VAT

Year of construction : 1890
Year of renovation : 1997
Price per sqm : 1418
Cold rent yield 6.50 %

Status: Not available

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Bright, rented, single apartment with balcony and park view in Prenzlauer Berg, close to Friedrichshain border. Strong yield from long-term tenant in a growth area.

4th Floor, middle of the front building, balcony which is accessed from kitchen and a small utility space in the decent hallway. Kitchen is large enough for small table by SW window. Bathroom is modern and tiled with built in bath and wall-mounted WC. Kitchen is fitted with a tiled white floor, ceramic hob, fridge and washing machine. There is a lift.

Condition: Both building and apartment have been completely renovated in 1996/7 and they are both very well maintained. Windows Double glazed throughout.

This apartment has been rented since 1997 to reliable, tidy lady. The seller claims that there have been no late payments in 10 years.

This excellently-maintained property is situated on the Danzigerstrasse, directly opposite the Friedrichshain Volkspark, a very large and popular park with hills, sports, playgrounds, grassy slopes, a lake, etc. A lively local atmosphere is sustained by the many local bars, cafés, restaurants, galeries, and the property is directly served by the M10 tram, bringing one swiftly through mitte, much of Prenzlauer Berg, Friedrichshain and through to Kreuzberg. A couple of minutes walking leads to the S-Bahn Landsberger Allee, which is on the Berlin ring, which loops around the inner city in 1 hour. All in all, a very respectable deal with good capital growth potential and a solid yield, which will slowly increase as the rental price is adjusted upwards with the market.