Property features

R7 995 000

Property Details

FANTASTIC INCOME GENERATING PROPERTY UP FOR SALE ! PRIME LOCATION - LOCATED ON A MAIN ROAD CLOSE TO TOP SCHOOLS, SHOPPING MALLS AND AMENITIES ! FULLY TENANTED ! GREAT UPSIDE - LET AT BELOW GOING RATES IN THE AREA ! SPACIOUS UNITS ! GREAT FOR FAMILIES ! FULLY LET BUILDING WITH SPACIOUS, MODERN / UPGRADED UNITS AND LONG ESTABLISHED TENANTS IN THE SHOPS ! YIELDING EXCELLENT RETURNS ! (15% net ROI) R1.17m p.a. ABSOLUTE GEM ! HURRY !!! / This Lucrative Investment Property Offers: Secure complex with access gate, parking facilities, value added amenities/shops, exceptionally maintained property ! 20 Flatlets: 9 x 1 Bed units (40-61sqm) - Spacious lounge and bedroom, all upgraded with stunning kitchens and bathrooms ! 2 Bachelor units (32sqm) - Spacious living areas and stunning new kitchens and bathrooms ! 9 x HUGE 2 Bed / Duplex Units (67-106sqm) - spacious units beautifully upgraded with quality finishes - Main bedrooms Double Volume ! Some units currently under renovations / upgrading as we speak. (Completed since) 3 Units std / original features Shops (48-56sqm) on main road comprises of a Hair Salon, and a Dry Cleaner shop catering to the units as well as the public. One office space / shop previously used as a manager's office is currently available for rent / own use. (office sizes 9sqm and 28sqm) Longstanding quality tenants with leases in place. All units have pre paid meters for electricity. Communal Laundry Room with coin operated Machine Ample Washing Lines Outside Toilets Renovated Units gutted down to Plumbing and electrical - all brand new All other municipal services and expenses are recovered Water meters all units Rate of Income: (excluding services) 1 Bed Flats: R4140 R3850 R2900 R4700 R3800 R4500 R3025 R3800 R3600 R2200 2 Bed / Duplex Units: R4500 R4750 R4750 R5500 R4050 R6200 R5900 R4650 R4300 Going rates average in similar Units between R8k - R9.5k Shop 1 R3500 Shop 2 R2750 Shop / Office R1700 - R2200 Total Gross R 125 000 (including services) Municipal Exp R33000 Net income R92000 Insurance R5 349 Cleaner R1 933 Net after Costs R 84718 R.O.I 15% Absolutely a Rare find - a "MUST" to add to your portfolio ! Do not hesitate on this opportunity ... Call me today !