Rental apartment block in Eimbsüttel sold for a multiple of 34

Deal | HH-Eimsbüttel

A combined apartment and commercial property has changed hands in Eimsbüttel. An asset management firm from Hamburg paid a community of heirs a multiple of 34 times the annual net rent (excluding service charges). The parties involved agreed not to disclose the price paid.

Grossmann & Berger, a member of German Property Partners (GPP), brokered this property.
The building is located on a prominent corner site between Eimsbüttel Park and the Lutterothstrasse underground train station. It was built in 1907 and typical elements of the then prevailing art nouveau style are still recognizable in the design details of the façade.

The house has 14 dwellings and two commercial units. The total floor area of 1,310 m² is divided between 1,125 m² of living space and 185 m² of commercial space.

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