Dienstag, 4. November 2008

10 Tenanted Apartments in Berlin for SALE

Price: EUR 395,000
Net rent: EUR 34,750
Net yield: 8.8%

Year of construction: 1983
Year of renovation: 1999
Total living area: 617.7 sq m (excluding storage rooms and balconies)

These ten apartments are all fully renovated and were given modern fully-tiled white bathrooms and double glazed PVC windows in 1999. Each apartment offers very generous room sizes and substantial balconies with views over the City towards Mitte. All apartments are let to reliable long-term tenants. The apartments form part of a very well managed development. Corridors, lifts etc are cleaned twice weekly. The grounds include ample parking and a variety of young trees and plants. The accounts for the development are EUR260,000 in credit (i.e. the buyer effectively gets EUR12,000 in free contributions). The development is in a green area of Eastern Berlin popular with young families.

The local U-Bahn and S-Bahn stations are a 5 minute walk away, the local park is a 2 minute walk. The development includes several small shops and a nursery. The regional shopping centre is just 5 minutes by car, and the very popular Gardens of the World attraction is just as accessible.

The centre of Berlin can be reached in 20 minutes by car or train. They were fully refurbished in 1999 (windows, internal doors, electrics, heating, and insulation were upgraded. They have all new bathriooms. Ideally, the owner wishes for them to be sold individually. Sales of individual properties are also possible.

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