Investment Opportunity: 18-Unit Block of Flats in Springs Central
(24 Bedrooms)
Potential Gross Rental Income: Approximately R52,000 per month
Potential Parking Bay income R7 850
All Municipal utilities are recovered
Condition: Requires TLC and upgrades
Potential ROI: Above 15% with correct tenant mix
This block of 18 flats in Springs offers a lucrative investment opportunity for savvy investors looking to capitalize on the growing demand for rental properties in the area. With some TLC and strategic upgrades, this property has the potential to generate significant rental income and provide a strong return on investment.
Key Features
18 units, offering a diverse range of potential tenants Flats
- 10 x 1 Bedrooms
- 4 x 2 Bedrooms
- 1 x 3 Bedroom
- 3 x Bachelor Flats
Ample Parking
- 10 x Basement parking's
- 6 x Lock up Garages
- 13 Open parking bays
Prime location in Springs, with access to amenities and public transport
Potential gross rental income of approximately R52,000 per month
Opportunities for upgrades and renovations to increase property value and rental income
Potential ROI above 15% with correct tenant mix and management
Investment Strategy
- Upgrade and renovate units to attract higher-paying tenants
- Implement effective property management to minimize vacancies and optimize rental Income
- Target a diverse range of tenants, including, Singles, families, and students
- Monitor expenses and optimize maintenance to ensure maximum returns.
Neels Potgieter, registered with the PPRA as a Principal Property Practitioner, under Real Royal Commercial Properties (Pty) Ltd t/a Century 21 Johannesburg South, registered with the PPRA as a Business Practitioner, who does not operate a trust account.