FULL TITLE BUILDING FOR SALE
BRILLIANT LOCATION - 2KM to TUT and TVET in Arcadia
20 X EXTRA LARGE BACHELOR UNITS - each with own bathroom and kitchen
WITH OFFICE RIGHTS
AGE OF BUILDING: ± 65 YEARS
PRICE: R13 000 000.00
TRANSFER COST OPTIONS: PROPERTY TRANSFER WITH THE PMT OF 10% TRANSFER DUTY
TOTAL UNITS IN BUILDING: 20
FLOORS: 4 x RESIDENTIAL LEVELS
LIFT: 1 X SCHINDLER LIFT
MIX OF UNITS AND SIZES: BACHELORS X 20 UNITS (50M2)
ZONING: SPECIAL RESIDENTIAL WITH OFFICE RIGHTS
PRE-PAID METERS: ELECTRICITY PRE-PAID METERS IN EACH UNIT
PARKINGS AND GARAGES: 7 UNDER COVER PARKINGS (EACH LET AT R600.00 PM)
S/Q AND STOREROOMS: 1 X SERVANTS QUARTER AND 1 X STOREROOM
ERF SIZE: 910M2
GLA: 1000M2
GROSS INCOME PM: R123 000.00
CURRENT EXPENSES PM: +-R25 000.00 on average
Cleaner/Caretaker: R5 400.00
Night Guard: R4 875.80
Insurance: R1 175.48
Schindler’s Lift: R2 418.62
Municipal Account: +-R12 000.00 (Winter months +-R15 000.00)
CURRENT TYPE OF TENANT: WORKING PEOPLE, GOVERNMENT AND HOSPITAL EMPLOYEES
PERMANENT EMPLOYEES: ONE CLEANER/CARETAKER @ R5 000.00PM
ESTIMATED STUDENT BEDS: WITH SUBDIVISION, 4 X BEDS PER FLAT X 20 = 80 X BEDS
(8M2 FOR SINGLE ROOMS; 14M2 FOR SHARING ROOMS)
± STUDENT GROSS INCOME: 80 X R4 500.00 = R400 000.00 PM
(R5 000.00 X BEDS ALLOWED MINUS 50% EXPENSES WILL BE R200 000.00 NETT PM)
± STUDENT CONVERSION COST: R800 000.00
(±R10 000.00 PER STUDENT – INCLUDES FURNITURE, APPLIANCES, LAUNDRY, CURTAINS)
DISTANCE TO UNIVERSITIES:
UP 700M TO UP BASIC MEDICAL SCIENCE CAMPUS (STEVE BIKO)
TUT MAIN CAMPUS 6.6KM
TUT ARCADIA CAMPUS 2 KM
TVET MAIN CAMPUS 2KM
UNISA CAMPUS 3.8KM
DISCLAIMER:
We made every effort to ensure the accuracy of the information on this property at the time of listing.
It is advised that the purchaser does a thorough due diligence to verify the information.
Should any cost or detail change, the broker cannot be held liable for any omissions, errors or differences.