R1 999 995 | 24 Bedroom Commercial Property For Sale in Boksburg, Boksburg

UNLOCK EXCEPTIONAL INCOME POTENTIAL !

LOCATED JUST 700m FROM TVET EKURHULENI WEST COLLEGE !

AND 200m FROM MASSIVE NEW SHOPPING MALL AND RETAIL OUTLET - PARKDENE BOULEVARD !

5 X SHOPS ON GROUND LEVEL AND 24 ROOMS UPSTAIRS !

HUGE DEMAND FOR SINGLE FACILITIES IN CBD !

********PRICE ADJUSTED FOR RENOVATION REQ******

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• Calling all SAVVY INVESTORS !!!


• Solid Double storey Building over x2 Stands Situated on a Busy corner.


• Massive redevelopment and Upgrades on your doorstep (200m)


• Surrounding area currently undergoing major Revitalizing with many exciting projects underway.


• Original use of the property was a Boarding House with 24 Rooms, or 8 x Double Rooms and 8 x Single rooms on the Upper Level.
• Street Level comprises with shops, workshops and garages - all space one could incorporate and repurpose.


• Shops currently owner occupied, and rooms Vacant and unused.


• All rooms with Balcony access, Basin in each room and wooden floors. (Suspended 400mm from the slab)


• Plumbing additions possible for conversion of rooms to en suite units, making ideal high demand units.


• Council Approval could be obtained to convert street level to residential units for further optimization of income stream.


• Separate entry and access to upper level / flats.


• Electricity
• x 2 Meters for the building currently :
• Upstairs rooms section x 1 meter
• Shops on ground level x 1 meter.


• Water supply;
• Sigle inlet to property



• Stand 1"
• Size 249sqm
• Municipal Value R1 340 000


• Stand 2
• Size 248sqm
• Municipal Value R1 250 000


• Combined Stand size 500Sqm
• GLA 760


• Income Potential:
• 24 Single Rooms @ R2 800
• Potential Gross R67 200


• Shops
• 350sqm @ R45/m
• Potential (owner occupied) R15 750


• (Shops Repurposed to Residential Units - 4 x 3 bed units plus 2 x Double Garages - R5000 x 4 = R20 000 or multiple Single units - 10 to 12 units = R28 000)


• Expenses (Current)
• Rates R2400
• Elec R1700
• Water R445
• Stand 2
• Rates R2573


• Expenses total R7 118
• Total Potential Gross R82 950
• Net Income Potential R75 832


• Endless possibilities


• Excellent Location


• Massive structure to convert and repurpose


• Great Flip prospect


• Or Ideal STUDENT Center


• The owner has agreed to set the Price WAY UNDER MARKET value to allow for upgrading factor


• Don't miss out on this BARGAIN - Call us Today !