Ref: FBMB1067                                                       Rooms: 2

City: Berlin                                                                Baths: 1

Area: Prenzlauer Berg                                            Type: Apartment

Street: Gleimstr.                                       Size: 55, 66 m²

Tenanted: yes

An excellent tenanted apartment in Prenzlauer Berg - arguably the hottest property address in Berlin.

The building was built in 1906 and completely refurbished in 1997. The apartment is on the ground floor and has direct access from the inner courtyard. The property offers a functional floor plan with a central hallway leading to the kitchen and the other two rooms. The kitchen and the bathroom are tiled, the rest of the apartment features high quality laminate floor.

Prenzlauer Berg is an area teeming with trendy bars, coffee shops and wonderful restaurants with menus from across the world. People watching is the local sport within Berlin’s trendiest neighbourhood. Find yourself a pavement cafe and enjoy the ambience. A great place to visit or live.

Mortgages Available For This Property

Q: What LTV can an investor get?

A: Up to 90% of the purchase price, but this has become a rare exception. Furthermore, an investor has to bear in mind that the higher the LTV, the higher the interest rates charged by banks.

Q: How many and what banks are involved in an enquiry?

A: All banks operating in Germany are in the pool. It has turned out that most finances are arranged with an ever-changing hard core of seven banks, which include mortgage or retail banks.

Q: What is the minimum loan possible?

A: Euro 25,000 – this means that a property should at least have a purchase price of Euro 50,000 because for small flats banks rarely give more that 50% of the purchase price.

Q: What properties can be financed?

A: Almost everything, everywhere: residential, commercial, blocks and single flats in big cities as well as the countryside. The bigger the property (or bundle of properties), the better the sustainable yield, the better the state of the property, the less vacancies and the better the location (macro as well as micro), the higher the LTV which should result. Some properties, however, might unfortunately not be financeable at all. This for example can happen if the sustainable yield is lower than 5%. Important for commercial units: The longer the remaining duration of the lease contract, the better for the LTV.