Classic Altbau property with 22 apartments and 2 two commercial spaces
Located in the micro-location of Wedding-Leopold Kiez - a rapidly gentrifying area
Walking distance to Universities and Hospitals and 5 minutes from two metro stations
Undergoing renovation by Inspiration Group
Amsterdamer Strasse Berlin is a classic Altbau property constructed in 1905.
The property features a mixture of tenanted and vacant apartments to suit any kind of investor. The tenanted apartments provide very competitive prices per SqM and significant upside potential.
The vacant apartments will be renovated by Inspiration Group following the purchase. These renovations will last six weeks and allow investors to rent their apartments for a high rent per SqM.
The property is connected to the modern central district heating system and is undergoing renovations of the facades, stairwells and landscaping of the courtyard by Inspiration Group. A 3D representation of the building after the repairs has been provided.
The neighbourhood of Leopold Kiez in Wedding is one of the fastest developing areas in Berlin. Amsterdamer Strasse Berlin is located on a quiet cobbled street in the heart of this area. The surrounding streets are lined with other beautiful Altbau buildings and Leopold Park is moments away.
Amsterdamer Strasse Berlin is designated as a residential area and has a speed limit of 7 km/hr in the surrounding area. As a result the area is very popular with families that have children. The surrounding streets are also renowned for their coffee shops and other lifestyle venues.
There are two metro stations within 5 minutes walk from the property and these connect residents to the heart of Berlin. Many residents work in the nearby business and government districts of Mitte. There are also Universities and Hospitals within walking distance of the property.
Amsterdamer Strasse Berlin and the South Wedding area represent a very attractive investment opportunity.
In the adjacent area of Mitte prices are surpassing €8,000 per SqM and rents are reaching up to €20 per SqM. By comparison, prices in Amsterdamer Strasse Berlin, inclusive of all closing costs, range between €1,700-3,000.
The high prices of the city centre are causing an intra-city migration to areas such as South Wedding. This demand for apartments creates a solid foundation for rising prices and rents in the future.
The upside potential is obvious when comparing the prices in Amsterdamer Strasse Berlin to the surrounding area. Even within the building this potential can clearly be seen; some of the existing rents are €3-5 per SqM, while the vacant apartments are expected to rent for €10 per SqM.
This property is managed by Inspiration Group and their in-house customer support unit. Unlike most German management companies they offer customer support in English and Chinese, including monthly updates concerning the investment.
Receiving financing from German banks is made possible for international investors through a pre-approval process.
We help all of our clients re-rent their apartments in the event that they become vacant. We also try to maximise the investment potential of every unit by actively searching for new tenants.
Inspiration Group will act on behalf of investors in selling their properties to a 3rd party.
Regular repairs are performed professionally by Inspiration Group’s maintenance team often without cost to the investor.
Inspiration’s expert team will offer support and manage renovations. Renovations are primarily conducted in cases in which the existing tenant has left the apartment.
The scope and level of renovations are decided upon through consultation with Inspiration Group and are performed in order to increase the apartment’s price or rental yield.
An annual tax filing is required by investors by German Law. Filing is performed through an affiliate CPA office and includes income from rent or sale of one or more apartments.
Single Investor – €150 + VAT
Joint Investors – €225 + VAT.
*Prices correct as of January 2015