FANTASTIC MULTI LEVEL APPARTMENT BLOCK - 46 ROOMS AND 7 SHOPS

Benoni, Benoni, Gauteng
ID 801589

Property features

R6 900 000

Property Details

SOLID BUILT MULTI LEVEL PROPERTY ! 7 RETAIL SHOPS AT STREET LEVEL ! 2 LEVELS OFFERING 46 ROOMS ! LOW VACANCY RATE ! LOW EXPENES WITH FANTASTIC MONTHLY INCOME ! WATER AND ELECTRICITY METERED ! / This Fantastic Commercial Property Offers: 7 x Fully Tenanted Retail Shops on street Level 46 Residential Rooms Excellent demand and low vacancies (2 units vacant currently) Fully Tiled Rooms and Common areas Communal Bathrooms - Ladies and Gents Communal Kitchen / Laundry area Minor TLC required - Painting common areas, bathroom ceilings etc Low expenses at R15k after recoveries Gross Income R98k currently (Fully let Gross +-R110k) Nett Income R71k ***EXPENSES: Municipal account after recoveries R15000.00 Insurance R3000.00 Cleaning R3000.00 Maintenance Provision R2000.00 Vacancy Provision R4000.00 VAT R500.00 TOTAL EXPENSES R27500.00 Yield increase potential with cosmetic upgrades extremely positive. Call us today to enquire on this great investment opportunity !