R5 899 000 | 42 Bedroom Commercial Property For Sale in Boksburg, Boksburg

EXCEPTIONAL RETURN ON INVESTMENT !

Stable / LONGSTANDING TENANTS - LOW TURNOVER 80-90% OF THE UNITS !

WELL CARED FOR AND MAINTAINED BUILDING!

LOW EXPENCES !

MASSIVE SCOPE TO IMPROVE YIELD EVEN FURTHER !

LOCATED IN 1KM RADIUS OF JET PARK INDUSTRIAL NODE, N12 HIGHWAY AND OTHER MAJOR CORPORATIONS !

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• This FANTASTIC Investment Property offers:


• 21 x 2Bedroom units
• Spacious Units of average overall Finishes, still in excellent condition.
• Huge bedrooms and Lounges offering comfortable living.


• Tenants enjoy a Large Lounge / Family Room, combined with Dining area. This opens up to a Balcony area.
• All Kitchens are of good size and fitted with bics.
• Spacious Bathrooms offers a bath, basin and toilet in all units.


• Building Layout entails 3 Floors, with Ground floor Units offering a small Private Garden feature, and the 1st and 2nd Floor units features small balconies.


• Outside rooms for the cleaner.


• A large Municipal Park adjacent to the property offers a lovely play park for the resident children.


• The building is situated in a quiet residential suburb with Lovely neighboring properties, shops, churches and schools.


• The property was build by the Owner in the late 1960's and used as a very healthy monthly income stream to date. Time has now arrived for the owner to realize their Fixed assets and hence the only reason to sell this excellent Investment Property.


• A New Roof was installed by Insurance Company 3 years ago after natural / wind damage


• The Property is Corporate owned in property owning company, offering the advantage of saving massively on transfer costs and on time to register into the new Purchaser’s name.
• All Financials on this company is available upon request.


• Future Potential to Increase the Current Yield:


• While already an attractive investment opportunity, this block of flats also offers the potential for excellent yield appreciation.
• The implementation of strategic renovations or enhancements, such as modernizing the units, the savvy investor can further enhance rental returns and property value.
• Comoaritive rates of similar units in the area allows for such improvements comfortably and without risk.


• Details of Units:


• Total of 21 units over 3 Floors
• Building in mint condition and presents a clean, well maintained and loved impression.


• All units have Pre paid Electricity
• Covered Parking secured by x2 Access gates for all units


• Income:
• Gross Income R92 000.00 monthly
• (2 Units currently vacant)
• Rates R 7200.00
• Expenses - Rates, Utilities, cleaner, insurance and general maintenance.
• Electricity sales to tenants administered by metering company - proceeds paid to owner monthly.
• Current Net income R60k


• FULLY Let Net Income potential of R110 000 pm


• This exceptional property will not be around for too long, Call us today for a personal tour and viewing asap.