Property features

R3 900 000

Property Details

VERSATILE 3 STOREY BUILDING ! IDEALLY LOCATED IN A PRIME LOCATION ! MASSIVE POTENTIAL ! OFFERING A GOOD MIX OF RENTAL OPTIONS ! FULLY OCCUPIED RETAIL COMPONENT ! REASONABLE OFFERS WILL BE CONSIDERED ! / This Lucrative Investment opportunity offers: Top Floor: (Upgraded rooms used as a Lodge / BnB currently) 10 x Rooms - 4 with bathrooms Large Communal bathroom neatly tiled servicing the other rooms. 1St Floor: 2 x 1 Bed Flats with bathrooms 4 x Bachelor flats with Bathrooms 6 x Bachelor Flats without bathrooms - communal bathrooms on the floor servicing the other rooms. Ground Floor: 6 x Retail shops Based on its Location - a moderate to high demand for street faced shops exist in the area. 12,3% cap rate for Decentralized Street-Front shops Income - Shops: R23 650 pm - Flats: R33 700 pm - Top Floor rooms - if used as monthly rentals +-R33k Total Monthly Gross R90 350 Annual Income R1 084 200 Vacancy 10% R108k Gross R975 780 Expenses R424k Net Annual Income R4 479 000 pm Open Market Val R4,5M (@ 12.3 Cap rate) *****Above being a guide for info only **** Total GLA 2550sqm Zoning Bus 2 Secure parking yard with access gate Current Income (after vacancies) R96k Net Income Currently R55k pm Offers from R3.7m sought - B A R G A I N !!!!! Call today to snatch up this money spinner !! SUPERB LOCATION to turn it into a goldmine