Muggelstr. 31

The Building

Muggelstr. 31, Friedrichshain, Berlin – Apartments for Sale in Fashionable Friedrichshain  

• Prime location in the heart of Berlin
• Highly attractive prices for the neighborhood
• Architecturally renovated apartments
• Fascades and stairwells currently being renovated
• Investment management by Inspiration Group
• High rental demand in the area
• 1-4 bedroom apartments in a classic Altbau building
• German bank loans of 40-50%

An Altbau building built in 1918 consisting of 34 apartments, ranging from 30 SqM studio apartments to spacious 4 bedroom apartments.

All the building’s technical systems are in good condition and modern central heating system was installed in 2003.

The previous owner of the property, an architect in his proffesion, renovated the majority of the apartments in the building with emphasis on quality sanitary, floors and interior decor.

The fascades and stairwells of the buildiing are currently being renovated, thus significantly increasing the demand for rent and purchase of apartments in the building.

A high demand exists amongs German and international investors for Altbau buildings constructed in the beginning of the 20^th century. Apartments in these buildings enjoy tall ceilings, stucco elements, wooden floors and a classic architectural design.

The Area

The property’s location is on a quiet cul de saq in the southern part of Friedrichshain. Friedrichshain, along with Mitte, Prenzlauer Berg and Kruetzberg is one of the most popular and fashionable neighborhoods in Berlin.

The neighborhood is characterised by a variety of bars, coffee shops and clubs which are situated mainly around Simon Dach Strasse.

Furthemore, the headquarters of many design and media firms are located in the neighborhood, including the headquarters of MTV Europe and Universal.

Every weekend at Boxhagener Platz there is a vibrant farmers market on Saturdays  and a lively flea market on Sundays.

Located near Simon Dach Strasse, the property offers the cultural advantages of the vibrant neighborhood at a walking distance, while being free of the commotion related to this popular area due to the queit location of muggelstrasse in the neighborhood.

Examples of properties currently for sale in the area

1. ~210m away from the building

A vacant apartment of 106 SqM, total price of 382,500 Euro including purchase tax, notary and realtor fees. Price per SqM 3,190 Euro after additional expenses.

//www.immobilienscout24.de/expose/69422397

2. ~230m away from the building

A rented apartment in mediocre condition of 57 SqM, total price of 136,180 Euro including purchase tax, notary and realtor fees. Price per SqM 2,389 Euro after additional expenses. Monthly rent 277 Euro. Net yield 2.77%.

//www.immobilienscout24.de/expose/68600131

3. ~150m away from the building

A vacant apartment of 60 SqM, total price of 226,257 Euro including purchase tax, notary and realtor fees. Price per SqM 3,771 Euro after additional expenses.

//www.immobilienscout24.de/expose/69086142

Example of properties currently offered for rent in the area

Properties currently offered for rent within a 250 meter radious from the building reflect rent prices of 9-11 EUR per SqM. Average current rent prices in Muggelstr. 31 are 7 EUR per SqM, thus reflecting potential rent increase of 50%  on average when replacing tenants.

//www.immobilienscout24.de/expose/69294513

//www.immobilienscout24.de/expose/69456628

//www.immobilienscout24.de/expose/69418432

//www.immobilienscout24.de/expose/69340373

Image gallery of the area:

The Apartments

There are 34 apartments in the building, ranging from 30 SqM studio dwellings to spacious 4 bedroom apartments. Sizes range between 30-96m².

The majority of apartments have been architectualy renovated by the building’s previous owner with emphasis on quality sanitary, floors and interior decor.

The demand for renovated apartments in Friedrichshain is extremely high for both rent and purchase, enabling investors to maximize the financial potential of their investment.

All apartment prices are lower than similar offerings in the area, starting at 30,000 EUR equity.

Architectural Renditions of the apartments:

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 2^nd 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.