Eldenaer Strasse Berlin

This imperial era property was constructed in the beginning of the 20th century and completely renovated a decade ago. An elevator was installed in the building, and the water, sewage, electricity and heating systems were renewed.

There are 25 apartments in the building, 21 in the front wing and 4 in the side wing. The units vary in size and design from 1 room to 4 room apartments.

The property is located in the northern part of Friedrichshain – one of the most fashionable neighborhoods in Berlin. The area is a hub for design and media firms, including the headquarters of MTV central Europe and Universal Studios. The neighborhood is renowned for its bars, clubs and coffee shops situated mainly around Simon-Dach-Strasse. A vibrant farmers market takes place every Saturday at Boxhagener Platz, followed by a flea market on Sunday.

The micro location of the property – Samariter Kiez – surrounding Samariter and Riger streets enjoys a lively atmosphere with local restaurants and coffee shops, contributing to the high demand for housing in the Kiez (micro neighborhood). The area across from the property is being developed with low rising townhouses, a small commercial center and public spaces. Prices in this new luxury development reach 5,000 EUR/SqM.

Friedrichshain neighborhood has been transformed in recent years to one of the most sought after neighborhoods in Berlin. The central location and abundance of leisure and cultural venues have contributed to the area’s popularity.

Eldenaer str. location – a short walking distance from Box-Hagener-Platz, yet situated on a quite street near a park and public transportation make it a convenient living location.

The fact that an building has been renovated and a elevator installed, further contribute to the attractiveness of this specific property.

Rental Demand

The high popularity of Samaritenkiez particularly with younger demographics, has increased price of new rental leases in the near vicinity to 10-14 EUR/SqM, with apartments in the top rental segment reaching even higher prices.

The current lease prices reflect the potential for significant increase in yields – 50% and above in most units – in future rental contracts.

The strong demand for apartments in the area creates a high level of security, ensuring future re-rental and very high potential increase in future yields.

Re-Sale

The market price for newly renovated vacant apartments in the near vicinity reaches 4,000 EUR/SqM, and prices of units in the townhouse development across from the project reach 5,000 EUR.

Rented units in similar Altbau properties are being sold for 3,000 EUR, and unique Penthouses for significantly higher. This gap reflects the substantial capital-gain potential of the investment.