Property features

R7 700 000

Property Details

INCREDIBLE INCOME GENERATING PROPERTY UP FOR SALE ! PRIME LOCATION - LOCATED IN A QUIET & PEACEFUL SUBURB ! FULLY TENANTED - LONGSTANDING TENANTS ! FULLY LET BUILDING WITH 20 SPACIOUS, MODERN UPGRADED UNITS AND 4 SHOPS ! YIELDING EXCELLENT RETURNS ! (15% net ROI) ABSOLUTE GEM ! HURRY !!! / This Lucrative Investment Property Offers: Secure complex with access gate, parking facilities, value added amenities/shops and a extremely neat property ! 9 x 1 Bed units (40-61sqm) - Spacious lounge and bedroom, all upgraded with stunning kitchens and bathrooms ! 2 Bachelor units (32sqm) - Spacious living areas and stunning new kitchens and bathrooms ! 9 x 2 Bed / Duplex Units (67-106sqm) - spacious units beautifully upgraded with quality finishes - Main bedrooms Double Volume ! Only a handful of Units still to be renovated, completion estimated by end of the year of all units by the owner. Some units currently under renovations / upgrading as we speak. Shops (48-56sqm) on main road comprises of a Hair Salon, Electronics repair shop and a Dry Cleaner shop catering to the units as well as the public. One office space / shop previously used as a manager's office is currently available for rent. (office sizes 9sqm and 28sqm) Longstanding quality tenants with leases in place. All Residential units have metered electricity. Shops have their readings taken monthly for individual consumption. All other municipal services and expenses are allocated and recovered from the monthly rentals / tenants. Rate of Income: (excluding services) 1 Bed Flats: R4140 R3850 R2900 R4700 R3800 R4500 R3025 R3800 R3600 R2200 2 Bed / Duplex Units: R4500 R4750 R4750 R5500 R4050 R6200 R5900 R4650 R4300 Shop 1 R4400 Shop 2 R3500 Shop 3 R2750 Shop / Office 4 & 5 R1700 - R2200 Total Gross R 125 000 (including services) Municipal Exp R33000 Net income R92000 / R1.1m pa (15%) Another Rare find - a "MUST" to add to your portfolio ! Do not hesitate on this opportunity ... Call me today !