Full Description

Pankow has become a high-profile area for investors of property in Berlin. Being adjacent to the gentrified and upwardly mobile area of Prenzlauer Berg many investors see Pankow as the next hot-spot property area of Berlin. Pankow enjoys excellent infrastructure and transport links as well as a variety of local shops, bars and restaurants.This five storey building dates back to 1906 and was extensively modernized during 1997 including the renewal of bathrooms, new gas central heating, wooden floors, etc. The property comprises of 30 residential apartments (2353m2) and 2 commercial units (480m2). The rental income exceeds 135,000 euros per annum producing a rental yield of 3.9%. The building plot size is 1024m2.The purchase price of 3,500,000 euros excludes commission at 7.14% including tax.