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    Buy-to-let apartment in Lichtenberg

    375,000 €
    • Yield 4.0 %
    • Annual income: 11,368 €
    • Total area 64 m²
    • Completion in: 2020.IV
    • 11-floor building
    • 11 floor
    • Notary (state registration): 1.5 %
    • Acquisition tax: 6.0 %
    • Total rooms: 3
    • 1 bathroom
    • Balcony or terrace
    • Car parks

    Three-room apartment for rent in a new residential complex near the center of Berlin.

    Description

    The building will be completed by the end of 2020.

    The residential complex consists of 56 studio apartments ranging from 30-33m² and two-, three-, and four-room apartments from 59-84m².

    The cost of the studios ranges from € 149,000-199,000 and the cost of the apartments ranges from € 299,000-470,000.

    There are two commercial units on the ground floor of the building.

    Energy standard: KfW-55

    Property of this type is highly sought after. The owner will receive long-term rent revenue for a low-cost investment.

    It is possible to purchase a package of several apartments.

    Interior

    The apartment consists of three bedrooms, a spacious kitchen, dining area, bathroom, guest WC, storage room, dressing room, and balcony.

    Equipment

    • fitted kitchen
    • heated floors
    • elevator

    Advantages

    There is the option of a rooftop terrace with parking space for bicycles. The owner may use the services of a management company, which assumes responsibilities associated with searching for tenants, signing the lease agreement, property maintenance, tenant communications, insurance, renovation, etc.

    Financial performance

    The projected annual income is € 13,512.

    The projected annual income after deducting expenses for maintenance and management is € 11,368.

    The projected yield is 3%.

    Transaction costs

    Notary (state registration) is 1.5–2%.

    Acquisition tax is 6%.

    The cost of ownership

    The cost of the management company services is € 29.75 every month per unit.

    The operating costs are € 2.32/m² per month.

    According to preliminary calculations, management and maintenance costs are € 2,144 per year.

    Location

    The residential complex is located in the Lichtenberg district, a 15-minute drive from the center of Berlin (Alexanderplatz). Public transport, a metro station, Aldi and Netto supermarkets are within walking distance from the building. Also, there is a shopping center, parks, a university, schools, sports field, and hospital nearby.

    The airport is located 20 km away, and Berlin Main Station can be reached in 35 minutes by tram.

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