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Commission Free** This beautiful and unusual altbau building in Berlin Friedenau dates back to around 1910. The five storey building consists of a front building with two side wings and a green inner courtyard. Typical altbau features including bay windows, stucco decoration, solid wood flooring and double box windows lend the property an historic charm. All apartments have an associated cellar storage space and are in good condition. Additional modernisation works are planned for the building. These include repairing and repainting the facade, both street-facing and on the courtyard side; modernisation of existing balconies and addition of new balconies to some apartments overlooking the courtyard; refreshment of all staircases, including repainting of apartment doors and replacement of old light fittings, and redesigning of the inner courtyard. This apartment currently has a net rental income of 4,72€/sqm per month. However there is potential to increase this - the government ruling on rental prices (Mietpreisspiegel) for this area allows a maximum rent of 10€/sqm to be charged (return of 3,25%). We can advise you on measures which can be taken to increase rental income. Additional Information **Please note these apartments are all tenanted, and so are suitable for investment. If you would like any advice on buying tenanted property in Berlin, please do not hesitate to get in touch with our team.** Black Label's international team can offer advice on all stages of property purchase, from the financial benefits of buying property in Germany to the step by step process of acquiring your new home or investment. Our team speaks fluent English, German, French and Mandarin, and works together with a team of English-speaking lawyers, notaries and mortgage brokers in Berlin. We can provide you with a varied choice of properties to suit your needs. Just send us your search specification, including: - Property style - Budget - Location - Investment or own use For advice on financing your Berlin property purchase, please get in touch with a member of the team. Our mortgage team is able to offer up to 70% to international clients, and our lawyers are at hand to explain the legal process of buying real estate in Germany. Interested in letting your new Berlin property? Black Label offers management packages for both furnished and unfurnished lets, as well as a complete design and furnishing service tailored to your style. Get in touch with us or stop by the office for more information.ObjectdataObject ID: 197.deProperty Type: ApartmentAddress: 14197 BerlinFloor: 1Floors in building: 5Living area approx:: 69 m2Area approx.: 69 m2Rooms: 2Bathrooms: 1Balconies: 1Heating system: Gas heating, Single-storey heating systemYear of construction: 1910Condition: Well maintainedStatus: tenantedMaintenance fees: 230 EURPurchase price: 254,000 EUR
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