Vacant and tenanted apartments in one of Berlin's trendiest neighbourhoods.
Prices from €47,000
Classic altbau property with newly renovated luxury apartments and communal roof terrace
Centrally located in Bergmannkiez adjacent to Gleidreieck Park and Viktoria Park
Just a few kilometers from Potsdamer Platz and Brandenburg Gate
Kreuzberg Strasse Berlin 45 is a classic Altbau building with 35 apartments and 2 commercial units. The building was constructed in the first decade of the 20th century.
A modern central heating system has been installed in the property. The lobby and stairwells were renovated in 2014.
As part of the renovations in the building, 6 new apartments will be built above the existing structure in the front wing, and a communal roof terrace will be developed. Additional renovations will include the refurbishment of the back façade and landscaping the central yard.
Centrally located near Mitte, Kreuzberg neighborhood is considered one of the trendiest areas in Berlin, with a strong presence of Berlin’s creative class. The neighborhood is renowned for it’s vibrant life style venues including numerous restaurants, bars, clubs and galleries.
The micro location of the property near Viktoria park and Bergmann Strasse, which is the continuation of Kreuzberg Strasse, is considered the most established and affluent area of the neighborhood.
Bergmann Strasse, is a major commercial and shopping street, nick named Kreuzberg’s Ku’Damm after Berlin’s upscale shopping street in nearby Charlottenburg.
Beautifully landscaped Viktoria park is located adjacent to the property, with the newly opened Gleisdreieck Park situated just across from the building with more than 30,000 SqM of green space, unique trails and playgrounds.
Kreuzberg Strasse 45 is the first project of Inspiration in Kreuzberg and one of the few prime location projects we have initiated.
Situated in one of the most sought after areas in Berlin, the median price of tenanted apartments in Kreuzberg- Friedrichshain surpasses 3,600 EUR/SqM (JLL 2014), including closing costs. Vacant apartments are marketed at 4,000 EUR/ SqM and above, reflecting the attractive pricing of the project, and the strong capital gain potential of the investment.
The strong demand for rental apartments in the area translates into new leases in the immediate vicinity reaching 12 EUR/SqM. The demand for housing in the micro location means a high level of security for Inspiration investors and an ease in locating new tenants for higher rents.
The large 3-4 bedroom apartments present some of the most attractive investment opportunities. A scarcity of large (100 SqM and up) apartments in the area has a pronounced effect on the future resale price of these apartments. While 3-4 bedroom apartments in Kreuzberg 45 are marketed between 2,000-2,5000 EUR/SqM, vacant apartment of similar size in the neighborhood are currently marketed for 4,500 EUR/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