ref # 968

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R 5 899 000 (298 683 EUR*)

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42
21
10
25
± 1986 m2
± 1580m2
R 7200  / m
R 0  / m

Property Features
Access Gate
Balcony
Built In Cupboards
Dining Room
Electricity Included
Entrance Hall
Family/TV Room
Fence
Flatlet
Free Standing
Garden
Kitchen
Patio
Paving
Satelite
Scenic View

FANTASTIC HIGH INCOME GENERATING COMMERCIAL PROPERTY - PRICED TO SELL !

EXCEPTIONAL RETURN ON INVESTMENT !

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

WELL CARED FOR AND MAINTAINED BUILDING!

FANTASTIC NET INCOME AND LOW EXPENSES !

MASSIVE SCOPE TO IMPROVE THE YIELD 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 a 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.
  • Comparative rental / 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 R63k

  • 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.


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