R4 395 000 | 20 Bedroom Commercial Property For Sale in Boksburg, Boksburg

EXCELLENT COMMERCIAL PROPERTY IN ABOVE AVERAGE CONDITION !!!

SPACIOUS FULL FLATLETS WITH LARGE FAMILY ROOMS, FULL KITCHENS, MODERN BATHROOMS !

FULLY TILED UNITS AND MODERN FINISHES !

LONGSTANDING TENANTS WITH LEASES IN PLACE !

11x LOCK UP / SECURE COVERED PARKINGS AND COMMUNAL GARDEN AREA !

GREAT LOCATION !!!

***PRICE JUST BEEN REDUCED.***

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• This FANTASTIC Block of Flats Offers:


• Excellent condition Property, very well maintained and boasting the right address


• Multi Level Face brick Property
• 12 Flats - Multi Level (2 Floors) Zoned : Res 4
• All with Modern Floor and Wall Tiling
• Neat Kitchens and Bathrooms - great condition !
• Large main bedrooms and Extra Volume Family Rooms, with access to balconies or the garden area for Ground floor Units.


• Zoning Residential 4
• GLA 1256sqm
• Stand 1416 Sqm 60% Coverage
• FAR 1.3
• Replacement Value R10.3m
• Insured Value R17.05m (Nov 2018)


• Income Details:


• - 8 spacious and neat 2-bedroom units @ R4 850
• Total R38 800pm


• -4 Equally Comfy 1 Bed Units @ R3 930
• Total R15 720pm


• Gross Income at R54 520pm


• (All units with pre paid meters - usage are billed - monthly from Building Main Meter account - and recovered.)
• Portions of Water billed monthly at flat rates to Units


• Net Expenses R13k pm


• Net Income Monthly: R41500 (ROI 13% )


• **In our opinion the Current rentals on these Units are fairly conservative **and the current yield could easily be improved for units of these specs.**


• (A Professional Valuation Certificate is available on file - Valued at R10.3m )


• Currently 1 Unit Vacant


• To view this Property or for any further information, contact us without delay.


• Extras"
• Covered and secure Parkings
• Large Lovely Communal Garden area
• Prime Location
• A grade Building Condition


• Upgraded Units tiled and renovated by the Owner.


• Reason for Selling; Location / Re Location of Owners


• Exceptional investment opportunity presenting a Lucrative opportunity for seasoned investors and newcomers alike