ref # 995

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R 6 990 000 (350 375 EUR*)

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30
30
10
62
± 4400 m2
± 2500m2
R 9000  / 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
Kitchen
Paving
Satelite
Scenic View

FANTASTIC HIGH INCOME PROPERTY - PRIME BLOCK OF 30 FLATS - PRICED TO SELL !!!

INCREDIBLE INCOME GENERATING PROPERTY UP FOR SALE !

PRIME LOCATION - LOCATED IN A QUIET & PEACEFUL SUBURB !

LOW VACANCY RATE, EXCELLENT DEMAND !

FULLY LET BUILDING WITH 30 SPACIOUS, WELL MAINTAINED UNITS !

YIELDING EXCELLENT RETURNS ! (16,5% net ROI)

MASSIVE SCOPE TO IMPROVE YIELD FURTHER !

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  • ******* OWNER WILL LOOK AT OFFERS AROUND R7m APPROVED AND SERIOUS BUYERS ONLY ! ******
  • PRICE JUST REDUCED SUBSTANTIALLY.


  • This Excellent Property offers the following:
  • 1 x HUGE 3 bed Unit
  • 26 x SPACIOUS 2 Bed Units - Double volume Main bedrooms
  • 3 x Spacious 1 Bed Units

  • FULLY LET
  • 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.

  • All Kitchens are of good size and fitted with bic's.

  • Spacious Bathrooms offers a bath, basin and toilet in all units.
  • All with pre paid meters.

  • Outside rooms for the cleaner.
  • Large area under cement floor for Washing Lines
  • Ideal Braai area in the corner of the stand for family braais and gatherings.

  • Building span over 4300 Sqm and consists 3 Levels.
  • Boasting with ample parking - with 2 Carports per Unit (Total 62 carports)

  • 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.

  • Income:
  • Gross Income per month currently at R140k
  • Average rental rates could easily be improved based on area rates.

  • Less expenses, Net income R85k - R96k per month !


  • NO TRANSFER DUTIES !!! The Property is Corporate owned, in a Property owning company, offering the advantage of saving massively on transfer Duty costs, as the Shares in the company are for sale.

  • 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.

  • All Financials on this company are available upon request.

  • Call us to discuss this impressive opportunity without delay !



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