Property features

R3 899 000

Property Details

FANTASTIC INVESTMENT OPPORTUNITY ! HANDSOME RETURN ON INVESTMENT WITH GROWTH POTENTIAL ! (Easy Conversion to add additional Units) LOW MAINTENANCE BUILDING ! LARGE AND SPACIOUS FLATS - WELL MAINTAINED AND MANAGED. FULLY TENANTED ! (SCREENED AND VETTED TO HIGH STANDARDS BY THE OWNER.) GOOD MIX OF BACHELOR UNITS, 1 BED AND 2 BED FLATLETS. HIGH DEMAND FLATS IN GOOD CONDITION ! / / This EXCELLENT INVESTMENT Property Offers: Entrance Foyer via access controlled Door Various Unit options catering to a wide range of Tenants: - 6 x 2 bedroom flats @ +-R4500 - (Total R27000) Massive Rooms and spacious Lounges. Neat bathrooms and Kitchens Balconies. - 2 x 1 bedroom flats @ +-R3500 - (Total R7000) Large Lounge, Kitchen, Bathroom and a Spacious Bedroom. All Flats with Balconies. All flats with pre paid Electricity and water meters. Administered by Citiq Service Providers - 3 x bachelor flats(Duplex) @ +-R3000 - (Total R9000) Duplex Units, Modernized with Tiled Lounge, Kitchen and Bathroom on lower level, The bedroom is on upper Level. All neatly Tiled and Modern Finishes and Cabinetry. Solar Geysers and pre paid meters. - 2x Retail shops @ +-R5000 - (Total R10000) Large shops, one of the Tenants been renting for 30yrs plus. Total Income R53 000 Gross Net Income R42 000 pm Gross R.O.I at 16.3% Net R.O.I. at 13% Zoning - Residential No sectional Title Under roof area 1200sqm Approved Building Plans in place. Coverage 87% FAR 2.2 One could easily convert one of the retail shops into x4 additional flatlets (bachelor) by way of simple alterations. Possible further income at 4 x R2800 - Total of R11 200 per month ! This will result to a 20% R.O.I. !! Extremely well cared for building with solid tenants. Owners disinvesting. Retirement Call today to add this excellent Investment Property to your Portfolio ! Price negotiable, reasonable Offers from qualified Buyers will be considered.