Eldenaer Str. 15

 

The Building


Eldenaer Str. 15, Samariterkiez, Berlin- 
Apartments for Sale in Renovated Altbau Property 

  • Newly renovated Altbau Property with elevator
  • Located in fashionable Friedrichshain
  • Open views overlooking a new luxury development
  • Penthouses and 1-4 room apartments
  • Complete investment management by Inspiration

Location

•  Centrally located in Friedrichshain neighborhood

•  Only minutes walking distance from public transportation, parks and leisure venues

•  Area’s residents average age 2nd youngest in Berlin

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 Rigaer 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,

Transportation – The property enjoys easy access to S-Bahn, U-Bahn and tram lines.

Altbau Architecture 

Altbau Architecture is characterized by a passion for detail and quality, idiosyncratic of the German Imperial era beginning in the 1860’s and culminating in the first decades of the 20th century. 

Buildings often vaunt arched doorways, hardwood floors, ornamented stucco elements, balconies, and ceilings reaching a height of 3.5 meters. 

The unique characteristics of Altbau buildings were lost in later decades as industrialized and functional designs became architecturally dominant. 

The combination of location – most Altbau buildings are situated in Berlin’s inner ring – and their unique design, render Altbau properties highly attractive to Berlin’s young professionals and international investors.

 

 The Apartments

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.

To view the floor plans click here

The Apartments’s image gallery:

Click here to download the Expose

Click here to view the area Map

Property Management

In Inspiration Group we believe that purchasing the property is only the first step in the investment. Managing it successfully and optimizing yields, independent of market conditions, is what determines the overall performance of the investment.

For this reason we offer our investors a complete management package, and have founded our own maintenance company:

We directly manage the apartments and the building, collecting from the tenants rent and taxes, and perform regular maintenance of the property.

  • Supervision over the apartments and tenants.
  • Locating new tenants in case of termination of lease. We will ensure the the quality of the tenants and the new lease.
  • Raising of rents in accordance to legal regulations.
  • Analysis of market trends, consulting investors concerning resale opportunities and strategies.
  • Vacating of tenants in accordance regulations.
  • Renovation of apartments.
  • Marketing and reselling.
  • Refinance services.

Financing

An initial payment of 20% of the purchase price will be deposited into a notary account within a week of signing the contract. The Additional 80% will be deposited in the account after the sale of all apartments, following a notice from Inspiration Group. In the case of taking a loan, the 2nd deposit will determined according to the sum of the loan taken.

Loans

It is possible to receive a 40%-50% loan from a German bank. Our investment consultants will assist you in choosing the most suitable loan.

Additional Services

We have created a one stop management package for our investors which includes: re-renting apartments, brokaerage services, supervision of refurbishments, opening bank accounts, submitting tax returns, etc.

Prices of other properties currently on sale in the area:

1. Rented Apartments
Size: 60.6 SqM
Rent: 515 EUR, 3.48% yield (prior to management and maintenance fund)Price: 177,577 EUR including closing costs (purchase tax, relator fee and notary) – 2,930 EUR/SqM.
Distance: 450 m

//www.immobilienscout24.de/expose/74623641

2. Vacant Penthouse

Size: 180 SqM Price: 772,924 EUR including closing costs (purchase tax, relator fee and notary) – 4,294 EUR/SqM.
Distance: 650 m

//www.immobilienscout24.de/expose/74692600

3. Vacant Apartment requiring renovation

Size: 114.2 SqM
Price: 351,695 EUR including closing costs (purchase tax, relator fee and notary) – 3,079 EUR/SqM.
Distance: 750 m

//www.immobilienscout24.de/expose/74101097

4. Rental Comparison

Mainzer Str. – Newly renovated apartment – 2nd Floor Size. Distance: 900m 99.20 SqM Price/SqM: 13.99 EUR 

//www.immobilienscout24.de/expose/74855391

Bänschstraße – 4th Floor. Distance: 750 Size: 55.61 Rent/SqM: 11.67 EUR.

//www.immobilienscout24.de/expose/74498895

Bänschstr. 50 – 5th Floor. Distance: 500 m Size: 87 SqM Rent/SqM: 9.89 EUR.

//www.immobilienscout24.de/expose/74865643

Weidenweg 57 – 1st Floor. Distance: 750 m Size and floor: 33 SqM Rent/SqM: 11.48 EUR.

//www.immobilienscout24.de/expose/74683317

 

Inspiration Group