House for sale • 606 m² without real estateAroser Allee 102 Berlin Reinickendorf Berlin 13407

The stable reinforced concrete structure, built in 1930 and divided in 1976, with a dry basement, a raised ground floor, a first floor, a second floor, and an attic shell in the third floor that can be developed, was constructed as part of a settlement concept and features nine residential units (all 2-room apartments). Ideally, the apartments have ceilings of about 2.8 meters. The attic shell has a much higher ceiling. The floor plan from the raised ground floor up to the second floor is identical – on each floor there are 3 apartments, with the middle apartments being about 50 m² and the apartments on the right and left about 55 m² each, slightly larger. All rooms have separate access, making them ideal, for example, for use as shared apartments.

Hot water is provided by electric instantaneous water heaters.

In the course of modernization measures carried out in 2002, tiled bathrooms, modern fitted kitchens, laminate flooring, and cable television were installed in the apartments. In cases of tenant turnover over the past 10 years, renovations, installation of spotlights, and/or replacement of floors have also been carried out as needed. One bathroom was converted into a modern shower room. Additionally, at that time, the main supply lines in the basement up to the riser shafts were renewed. An intercom system with doorbell is also available.

In 2012, the loggias were converted back into balconies, which makes Aroser Allee 102 stand out in the whole area and eliminates the building defect (the bathroom window opens into the closed loggia, causing mold formation). In this context, new insulated plastic windows were also installed in all the apartments.

In 2021, a brand-new modern heating system was installed. In addition, there are other multi-family houses adjacent to the building on both the right and left sides. This resulted in tenants paying on average only about €1 per m² per month for heated operating costs, despite high gas prices, whereas the average in Berlin is more like €1.50 per m².

The annual net cold rent is currently about €90,000.

If you develop the attic, the target annual net cold rent is expected to be around €138,000.

As a parceling transaction, without you having to develop the attic, you could sell the property for an estimated approximately €3 million. Two of the floor plans in the listing are conceptual, since you could also sell adjoining apartments individually – essentially as 5-room and/or 8-room apartments – which is virtually unique in Berlin and could achieve particularly high sale prices.

Thus, if you hold the property for 5 to 10 years, a doubling of its value is not unlikely. Even with the rental income, you have a secure investment.

Alternatively, you can quickly generate liquid funds from this property by buying the entire building with 100% financing and then selling the attic shell, which is already divided into 2 units in the land register. This way, you can create several hundred thousand euros in liquid equity, allowing you to make further purchases immediately.

The well-maintained property has shared communal areas (garbage area, right-of-way, etc.) with the neighbors at Aroser Allee 104 and Zermatter Straße 5. Since 2013, there has been a notarial ideal partition, so that each building can be managed independently and has its own garden areas; only the garbage area is shared.

The property is located on the border of Wedding/Reinickendorf, with Mitte reachable in a very short time. Furthermore, the A100 motorway on-ramp is only about a 5-minute drive away. In addition, a beautiful Schäfersee is in the immediate vicinity. Moreover, the jet noise from the former Tegel Airport has been a thing of the past since 2021.

It can be assumed with relatively high certainty that this residential location will develop disproportionately compared to other residential areas in Berlin.

8 of the 9 apartments come with fitted kitchens. All apartments are equipped with laminate flooring. All 9 bathrooms are fully tiled.

Some of the apartments have been newly renovated when tenants changed.

The developed living area is approximately 466 m², with an additional potential/undeveloped attic area of 140 m². The price is €1,999,999 for the 9 residential units plus €399,999 for the attic shell. The 9 apartments can also be purchased without the attic shell; but not vice versa. Alternatively, you can acquire the entire property for just €2,250,000.

The attic is in good condition, so expansion costs can be saved.

The basement, with a usable area of approximately 150 m², is partly rented out more lucratively than the residential area itself.

I am a private individual, so no commission is due.

If you are interested, I am happy to provide you with the bank-relevant documents that have already been prepared.

You can reach me, for example, at my telephone number 0157 / 72711524 – feel free to contact me via WhatsApp as well!