Attractive Apartment Building In A Prime Location In Berlin's Pankow District!

A well-maintained apartment building is for sale in the popular Berlin neighborhood of Pankow. Built in 1918, the building is a classic Berlin property with solid construction, an established tenant base, and attractive prospects for long-term investors.
The property comprises a total of 15 residential units and 8 garages, with a living area of approximately 915.88 m² on a lot measuring approximately 755 m². In addition, the available roof space offers further development potential, which could allow for additional expansion in the future. This is, of course, subject to technical and regulatory approval.

According to the current rental statement, the property currently generates a monthly net rent (excluding utilities) of €6,926.35, including garages. Of this amount, €640 per month comes from garage rents, with 8 garages at €80 each. The rent for residential space alone thus amounts to €6,286.35 per month. This results in a current annual net rent (excluding utilities) of approximately €83,116.

The property is particularly attractive not only because of its current rental income but also due to its future development potential. The available documentation indicates that rents for individual units are currently still below market rates. This may present the buyer with further potential for rent increases within the limits of the law. The existing garages also contribute to the income stream and serve as an attractive supplement to the residential rental income.

From a technical standpoint, the property has been continuously maintained and upgraded over many years. As early as the mid-1990s, modernization and renovation work was carried out in the apartments, including window replacements, electrical work, and the installation of oil-fired heating. In 1997–1998, the roof, including the roof trusses, was replaced, with provisions already made for a potential future loft conversion. At the same time, the electrical risers were replaced.
In the years that followed, additional apartments were modernized and renovated. This included work on windows, electrical systems, and individual areas of the apartments. In addition, the garage roof was replaced, electrical work was performed in the apartments, and between 2002 and 2006, further apartment renovations and window replacements were carried out.

The technical systems and outdoor areas were also gradually improved. In 2007, among other things, all radiators in the building were replaced, additional windows were renewed, the garage courtyard was paved, and a rainwater drainage system was installed. In 2008, the cold-water and wastewater lines were replaced. Further modernizations and apartment renovations—including window replacements and electrical work—took place from 2009 to 2013 and again between 2015 and 2020. In 2014, a water riser was also replaced.

Most recently, in 2021–2022, the facade was renovated, including the necessary insulation measures and the replacement of the remaining old windows. Overall, this represents a comprehensive history of modernization with documented total investments of approximately €1.149 million. A connection to district heating is also a future possibility and is planned as the next step. According to the utility provider, this is expected to be feasible starting in 2027.

Overall, this apartment building offers an attractive combination of stable current returns, a well-maintained building stock, additional garage space, and a clear development outlook. The property is therefore suitable both for traditional portfolio investors with a long-term investment horizon and for investors seeking a Berlin apartment building with moderate appreciation potential.