BERLIN ZEITZER STRASSE 5, NEUKÖLLN APARTMENTS IN A RENOVATED PROPERTY PROPERTY RENOVATED IN 2012 AND 2002. CENTRALLY LOCATED IN A HIGH DEMAND AREA NEAR RICHARD PLATZ IN NORTHERN NEUKÖLLN. SPECIAL OFFER IN PARTNERSHIP WITH : NEWLY RENOVATED LOFT APARTMENTS, STUDIOS, AND 1-3 BEDROOM APARTMENTS. DISCOUNTED PRICES WITH HIGH YIELDING UNITS. COMPLETE INVESTMENT MANAGEMENT BY INSPIRATION GROUP
THE LOCATION The property is located in Northern Neukölln near Kreuzberg and Treptow neighborhoods. During the last 5 years the area has become increasingly fashionable attracting hundreds of new residents from other parts of Berlin. Dozens of coffee shops, restaurants, bars and art galleries have opened in the vicinity of the property in recent years. Rent rates rose substantially and reached levels of upper middle-class neighborhoods such as Charlottenburg. The Micro Location is in the area of Richard Platz and Rixdorf the central area of historical Neukölln famous for its charming buildings dating back hundreds of years. Just minutes walk from tranquil Richard Platz, Neukölln s S-Bahn and U-Bahn stations, elegant Korner Park, and the central shopping artery of Karl Marx Strasse combine in creating a very attractive urban mix contributing to the popularity of the area. Central location high demand area. Near Richard Platz, Körnerpark and Karl Marx Strasse. 15 min from the heart of Berlin Surrounded by cultural and artistic venues. Legend: 1. S+U Bahn station Metro lines, 15 min to the heart of Berlin 2. Karl Marx Strasse Major commercial street 3. Kornerpark Beautiful park in the neighborhood 4. Emser Strasse Fashionable coffee shops and galleries 5. Hermanstrasse Vibrant commercial artery 6. Tempelhof Park Huge green urban park
THE PROPERTY AND APARTMENTS This beautiful Altbau property was constructed in 1900. The front and side wings have been renovated in 2001-2002 and are in a very good condition. The back wing was completely renovated in 2012. A modern district heating centralized system is installed in the building. There are 34 apartments in the property ranging in sizes from 37 sqm studios to 135 sqm 3 bedrooms apartments. 10 of the units are newly renovated fashionable loft spaces, 7 of which are vacant. All apartments in the property are sold below the average market price in the area. Rental median price EUR/sqm by construction year Before 1919 - Altbau 1920-1945 1946-1970 1961-1975 1976-1990 1991-2007 after 2008 9.20 8.10 8.60 7.45 6.90 8.10 10.50 source: on.point residential city proile - JLL 2014 Altbau Architecture V Altbau Architecture is characterized by a passion for detail and quality that relect the ethos of the German Imperial Era that began in 1870 and lourished until the outbreak of World War I. Buildings often possess arched doorways, hardwood loors, ornamented stucco elements, apartments with balconies, and ceilings that reach a height of up to 3.6 meters. The unique characteristics of Altbau buildings were lost in later decades as industrialized and functional architecture became dominant. The combination of location - most of Altbau buildings are situated in Berlin s inner ring and unique design make Altbau properties highly prized by Berlin s educated and professional class, and also by foreign investors. Prices of Altbau properties are second only to buildings constructed after 2008.
Loft Apartment
OPPORTUNITY ANALYSIS Fashionable micro location. Low entry-point investment - with strong capital gain potential. Up to 50% mortgages available. Complete Investment Management by Inspiration Group. Zeitzerstr. Is located in the central/northern part of Neukölln. In the last 5 years the northern part of Neukölln neighborhood adjacent to Kreuzberg has experienced a major urban transformation. Rising property prices in the heart of the city combined with the conversion to a public park of the historic Tempelhof airport, have catalyzed a mass movement of young and afluent residents to the area. In recent years, dozens of trendy restaurants, galleries, coffee shops and bars have opened in the immediate vicinity. Vacant apartments are virtually non-existent, fueling the rise of rental prices to the level of historically afluent neighborhood like Charlottenburg. The combination of attractive pricing and high yields, the sustained demand for purchase and rental of properties in the area, and Inspiration s complete management package create a unique investment opportunity. Rental Demand The increasingly high demand for property in the area caused a upward trend in rental prices; within a radios of 500 meters from the property new rental contracts reach 8.5-11 EUR/ SqM. According to the data collected by CBRE, new leases in the area s top rental segment stand at 14-15 EUR/SqM. Since the current average rental price in the property is 7 EUR/ SqM a signiicant increase in future yields is to be expected. Re-Sale The market price for vacant apartments in the immediate vicinity surpasses 3,500 EUR/SqM, signiicantly higher than Inspiration Group offerings. This gap relects the substantial capital-gain potential of the investment. Rented apartments in a radios of 500 meters from the property are marketed for 1,700-3,000 EUR/SqM. Development of median purchase prices ( /sqm) 3,000 2,800 2,600 2,400 2,200 2,000 1,800 1,600 1,400 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Source: JLL, on.point - Residential Property Market Berlin, 2014
INNOVATIVE INVESTMENTS THE GbR MODEL Only 17% of Berlin apartments are privately owned. Most of Berlin s housing stock is owned by funds and private companies with portfolios, which in some cases reach tens of thousands of apartments, in effect decreasing the supply marketable housing units. Recognizing the strong demand for apartments by private investors and residents interesting in becoming home owners; the low supply of marketed housing units, and the inability of most investors to purchase whole buildings, Inspiration adopted a unique model of operation the GbR Model. Inspiration identiies exceptional properties, pools together the resources of individual investors and purchases complete buildings at a discounted prices. Following the acquisition, each apartment is registered in the Berlin land registrar under the name of the speciic investor whom purchased it. Investors enjoy Inspiration deep understanding of the Berlin real estate market in hand picking select properties in speciic micro locations. Purchasing a whole building in with the GbR model enables signiicant savings by buying in bulk and reducing the purchase price per SqM. The price is inclusive of purchase tax, brokerage fees and legal fees amounting to 15% in Berlin. 30%- 50% inancing is made available to international investors. Following acquisition, the property is managed entirely by Inspiration Group, including all aspects concerning the investment such as
PRICE COMPARISON 59.25 SqM Vacant Apartment Price: 212,083 EUR (3,579 EUR/SqM) (including closing costs - purchase tax, relator fee and notary) www.immobilienscout24.de/expose/77907187 73.5 SqM Vacant Apartment Price: 224,353 EUR, 2,822 EUR/SqM (Including closing costs) www.immobilienscout24.de/expose/74400423 Apartments for rent in the vicinity Asking rent ranging between 9-11 EUR/SqM. www.immobilienscout24.de/expose/77286129 www.immobilienscout24.de/expose/77846252 www.immobilienscout24.de/expose/77284707 www.immobilienscout24.de/expose/56067666 Data compiled from www.immobilienscout24.de
CONTACT US berlin@groupkensington.com