R6 690 000 | 30 Bedroom Commercial Property For Sale in Boksburg, Boksburg

FANTASTIC INCOME GENERATING PROPERTY UP FOR SALE ! ***********REDUCED!!!!***************

PRIME LOCATION - LOCATED ON A MAIN ROAD CLOSE TO TOP SCHOOLS, SHOPPING MALLS AND AMENITIES !

FULLY TENANTED ! GREAT UPSIDE - LET AT BELOW GOING RATES IN THE AREA !

SPACIOUS UNITS ! GREAT FOR FAMILIES !

FULLY LET BUILDING WITH SPACIOUS, MODERN / UPGRADED UNITS AND LONG ESTABLISHED TENANTS IN THE SHOPS !

YIELDING EXCELLENT RETURNS ! (15% net ROI)
R1.17m p.a.

ABSOLUTE GEM ! HURRY !!!

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• This Lucrative Investment Property Offers:


• Secure complex with access gate, parking facilities, value added amenities/shops, exceptionally maintained property !


• 20 Flatlets:
• 9 x 1 Bed units (40-61sqm) - Spacious lounge and bedroom, all upgraded with stunning kitchens and bathrooms !


• 2 Bachelor units (32sqm) - Spacious living areas and stunning new kitchens and bathrooms !


• 9 x HUGE 2 Bed / Duplex Units (67-106sqm) - spacious units beautifully upgraded with quality finishes - Main bedrooms Double Volume !



• Some units currently under renovations / upgrading as we speak. (Completed since)
• 3 Units std / original features
• Shops (48-56sqm) on main road comprises of a Hair Salon, and a Dry Cleaner shop catering to the units as well as the public.
• One office space / shop previously used as a manager's office is currently available for rent / own use. (office sizes 9sqm and 28sqm)


• Longstanding quality tenants with leases in place.


• All units have pre paid meters for electricity.


• Communal Laundry Room with coin operated Machine
• Ample Washing Lines
• Outside Toilets


• Renovated Units gutted down to Plumbing and electrical - all brand new


• All other municipal services and expenses are recovered


• Water meters all units


• Rate of Income: (excluding services)
• 1 Bed Flats:
• R4140
• R3850
• R2900
• R4700
• R3800
• R4500
• R3025
• R3800
• R3600
• R2200


• 2 Bed / Duplex Units:
• R4500
• R4750
• R4750
• R5500
• R4050
• R6200
• R5900
• R4650
• R4300
• Going rates average in similar Units between R8k - R9.5k


• Shop 1 R3500
• Shop 2 R2750
• Shop / Office R1700 - R2200


• Total Gross R 125 000 (including services)


• Municipal Exp R33000


• Net income R92000
• Insurance R5 349
• Cleaner R1 933


• Net after Costs R 84718 R.O.I 15%


• Absolutely a Rare find - a "MUST" to add to your portfolio !


• Do not hesitate on this opportunity ...
• Call me today !