Property features

R9 250 000

Property Details

Situated in the fast-growing East City Precinct and comprising 15 fully let apartments and two ground floor retail units, this MU3 zoned building offers a generous nett yield of 10.4% and is an ideal opportunity to make this your first acquisition or add to your current investment portfolio. There are valid leases for each unit and there is also a waiting list for all units. An added bonus for development: The sellers have obtained a demolition permit based on proposed plans for a 9 storey structure comprising 33 apartments and a retail component should you decide on the development option. Close to both the M3 and N2 highways, on the MiCiti bus route and adjacent to Cape Town City Centre, this is a rare opportunity to acquire one of the last free-standing buildings in this node of the City at a very realistic price. Gross Monthly Rental: R 0.00