Property features

R5 900 000

Property Details

GREAT INCOME PROPERTY IN MINT CONDITION ! SECURE PARKING AND GARAGES ! KLINKER / LOW MAINTENANCE BUILDING ! LOADS OF POTENTIAL TO IMPROVE / INCREASE UNITS ! ROOF RECENTLY PAINTED - QUALITY PAINT ! / This Fabulous Property is Up For Sale with Caldan Homes, Offering the following features: * x 5 Retail Shops Long standing tenants * x 9units with 6x1 Bed Units and 3x2 Bed Units The owner's 2 Bed unit features two Bathrooms, With 2 Garages and a large entertainment room with separate entrance - This unit can easily be converted into a 3 or 4 one bed units with a simple conversion. The one shop also using 2 additional Garages for storage, and x 2 rooms at the back of the shop which can be separated into x 2 bachelor rooms (bathroom available or fittings) All municipal costs billed to tenants as per readings monthly Income: Gross Income : R54 700 (Rent) Expenses: R6530 (Rates n Taxes) Net Income R48 170 pm R.O.I. Gross 12% Net: 10% THE POSSIBILITIES ARE ENDLESS !! The retail shops can be built up to 2 storeys - property Zoning is Business 2. Erf size 1468sqm Coverage is 76% Paving/Tar open area 300sqm POTENTIALLY ONE CAN REMODEL TO 15 UNITS BY ALTERRATIONS ONLY ! All Shops and Units have own water and elec meters - readings taken monthly and passed on to all tenants CCTV Cameras HD x 6 included Call us today - do NOT delay !