A+ GRADE RESIDENTIAL BUILDING IN ARCADIA.
PRIME LOCATION!
OCCUPIED BY NORMAL FAMILIES AND GOVERNMENT EMPLOYEES.
LESS THAN 1% VACANCIES.
ALL MUNICIPAL ACCOUNTS UP TO DATE.
FULL MAINTENANCE PLAN TO KEEP THE PROPERTY AS A-GRADE.
SCHINDLER LIFTS IN WORKING CONDITION AND UPGRADED.
FULL TITLE BUILDING: TRANSFER DUTY PAYABLE (+-11%)
NOT VAT REGISTERED.
CURRENT GROSS INCOME: R3 800 000.00 PER ANNUM
CURRENT NET INCOME: R2 660 000.00 000.00 PER ANNUM
48 X APARTMENTS WITH OWN KITCHEN, LIVING ROOM AND BATHROOM.
MIX:
24 X 1.5 BEDROOMS (75M2)
24 X 2.5 BEDROOMS (85M2)
PARKINGS:
12 X PARKING; 36 X GARAGES
STUDENT ACCOMMODATION POTENTIAL:
216 X STUDENT BEDS
(4 X STUDENTS IN A 1 BEDROOM; 4 X STUDENTS IN A 1.5 BED; 5 X STUDENTS IN A 2 BED)
8M2 PER SINGLE ROOM MINIMUM; 14M2 PER SHARING ROOM AS PER NSFAS REQUIREMENT)
LARGE ERF WITH SPACE FOR STUDENT ACCOMMODATION FACILITIES, LIKE LAUNDRY, ENTERTAINMENT, STUDY, KIOSK AND GYM.
LOCATION: 2KM TO UP PRINSHOF; 1.8KM TO STEVE BIKO ACADEMIC; 750M TO TVET/TUT
R10 800 000.00 POTENTIAL STUDENT GROSS INCOME P/A
SELLER REQUIREMENT: PROOF OF AT LEAST 10% DEPOSIT AND 11% FOR TRANSFER COSTS
NO ACCESS WILL BE GIVEN WITHOUT THIS.