R8 500 000 | 39 Bedroom Commercial Property For Sale in Springs, Springs

A FANTASITC HIGH INCOME PROPERTY - IDEALLY LOCATED IN HEART OF CBD, VIBRANT PART OF TOWN !

IMPRESSIVE 20% GROSS YIELD !

VAT TRANSACTION - CAN BE ZERO RATED !
(NO VAT OR DUTIES PAYABLE !)

ENJOYS 3 x STREET FRONTS !

FULLY LET ! HIGH DOOR COUNT AND CASH FLOW HEAVY !

NEAT AND CLEAN UNITS WITH STRONG DEMAND !

*****COULD CONSIDER OFFER FOR MINOR COSMETIC WORKS, QUALIFIED, SERIOUS BUYERS ONLY !***

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• Perfectly Located in the busier and vibrant section of Springs CBD


• Consisting of Two Connected Stands ( Total Erf size 1860sqm) With an aprox. GLA 2267sqm with street frontage on 3 streets.


• Boasting with x 24 Small Retail shops (some currently let as Double Units, with a healthy demand an no vacancies.


• And an Impressive x 39 Bachelor and 1 x Bed Units.
• Neat, Older Building with some Tlc Needs, mainly cosmetic.
• Structure is of Solid built and general maintenance kept up to standard.


• - The building has Pre paid Electricity Meters in all units and Shops,
• - Units all have Sub Water meters and billed to monthly rent.
• - A Borehole further enhances overall income.


• INCOME:
• Annual T/o +- R1.665k (19.48% R.o.i)
• Expenses - Rates, services to Common areas, manager (owner employee)



• Seller has other business interests, hence decision to dispose.


• Call us today to seize this lucrative Investment Property before it's too Late !





• ***Financial info, Building Plans etc all available to Qualified Investors.***