ref # 985

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R 4 695 000 (237 721 EUR*)

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20
12
11
11
± 1416 m2
± 1256m2
R 2793  / m
R 0  / m

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

FANTASTIC RESIDENTIAL INVESTMENT PROPERTY - 12 FAMILY SIZED FLATLETS IN PRIME LOCATION !

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 !!!

***Inviting all interested parties, as all reasonable offers will be considered.***

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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 11% @ R4.7m)

  • **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

  • *****Inviting all interested parties, as all REASONABLE offers will be considered.*****


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