1-4 bedroom apartments in a renovated property in excellent condition
Prices from €42,000
Central location in the historical area of Victoriastadt
Located on a quiet street close to public transportation
Adjacent to the vibrant area of Friedrichshain
This classic Altbau property with 14 apartments was constructed in the beginning of the 20th century. The property has undergone extensive renovations one decade ago, and is in excellent technical condition.
Beautiful stucco elements, part of the original design, decorate the building’s façade and public areas.
There are 1-4 room apartments in the property. Modern individual gas heating systems have been installed in all apartments.
Victoriastadt, is a mini-neighborhood located in Lichtenberg, on the seam zone with fashionable Friedrichshain neighborhood. Most of the buildings in the micro area date back to the beginning of the 20th century, and have been well preserved and renovated. Victoriastadt has been declared by the municipality as a historical area, with a uniquely charming character, contributing to its attractiveness.
Kaskelstr. 4 is a quiet, pleasant street in the center of Victoriastadt just a short walking distance from Friedrichshain’s cultural hub in the area of Neue Banhofstr. and Boxhagener str., in which many restaurants, coffee shops and shopping venues abound.
200 meters south of the property, residents enjoy the charming Rumelsburger See situated on the Sprees waterfront – a perfect leisure activity in the center of the city.
Lichtenberg neighborhood, of which Kaskelstr. 4 is part, has undergone in recent years, together with Neukolln, some of the strongest price transformation in Berlin.
The close proximity to Friedrichshain has significantly affected the upward price trend and the strong demand for apartments in the area. This trend is forecast to continue in the coming years.
The zoning of Victoriastadt as a historical area, enjoying excellent transportation links, has further contributed to the attractiveness of the neighborhood.
With rental prices on the rise, but still cheaper than adjacent Friedrichshain, the micro-location of Victoriastadt enjoys a high demand amongst buyers and renters. New rental contracts reach 8.5 – 12 EUR/SqM, and according to the data published by CBRE, new leases in the area’s top rental segment stand at 13.5 EUR/SqM. 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.
The market price for newly renovated vacant apartments in the near vicinity may reach 3,000 EUR/SqM. Rented apartments in a radios of 500 meters from the property are marketed for around 2,200 EUR/SqM. This gap reflects the substantial capital-gain potential of the investment.
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