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Kreuzberg. Straße 45
The Building
Kreuzberg. Straße 45, Berlin Apartments for Sale in a Property in the Central of Berlin
- Fantastic location in Berlin’s trendiest neighborhood.
- Near parks, public transportation and cultural venues.
- Classic Altbau property with newly renovated studio apartments and planned roof terrace.
- Discount prices: tenanted 1-4 bedroom apartments.
- Complete Investment Management by Inspiration Group.
Location
• Centrally located in Bergmannkiez one of the trendiest micro locations in Berlin.
• Near Richard Platz, Korner Park and Karl Marx Strasse.
• Situated across from newly landscaped Gleisdreieck Park and a few minute walk from beautiful Viktoria Park.
• Surrounded by cultural, shopping and life style venues.
• Minutes away from Yorckstraße S-Bahn and U-Bahn stations.
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 Bergmannstraße, which is the continuation of Kreuzbergstraße, are considered the most established and affluent area of the neighborhood.
Bergmannstraße, is a major commercial and shopping street, nick named Kreuzberg’s Ku’Damm after Berlin’s upscale shopping street in nearby Charlottenburg.
The property
Kreuzbergstraße 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.
The Building’s image gallery:
The Apartments
A mix of apartment sizes exist in the property with 23-40 SqM renovated studio apartments as well as tenanted studios; 1-2 bedroom apartments 50-70 SqM, and spacious 3-4 bedroom apartments 110-176 SqM.
All apartments are being marketed at discount prices compared to the neighborhood average.
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.
Rental Potential
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.
Prices of other properties currently on sale in the area:
Date collected from www.immobilienscout24.de Germany’s leading real estate website. The prices quoted are after the addition of closing costs totaling 16%.
1. Vacant apartment
Size: 151 SqM – price 686,694 EUR including closing costs. 4,547 EUR/SqM
2. Vacant apartment
Size: 71 SqM – distance 240 meters 317,438 EUR including closing costs. 4,470 EUR/SqM
Apartments for Rent in the vicinity :
New rentals range between 11-12 EUR/SqM