Property features

R21 800 000

Property Details

This is MASSIVE: Want to earn approximately R2,340,000 Nett rental income per year for 3 years starting today???? With a student rental contract secured for 3 years starting from February 2024 PLUS Commercial rental income of approximately R69,000 per month, this is an opportunity NOT to be missed. This unique property is situated a mere 700m from the Provincial Hospital and offers the purchaser a rental income from 12 apartments which has been renovated to accommodate 54 students, as well as 6 Commercial Shops. The first and second floor boasts the 12 very spacious apartments, each with a separate living area, bathroom and kitchen. The 6 shops on the ground floor all have rental contracts in place, with a rental income of about R64,000 per month A 3 year rental contract is also in place for a Network tower, earning an additional R5k per month. All the apartments have individual prepaid water and electricity. The sale of the property includes all inventory, which includes 54 beds, microwaves, ovens, fire extinguishers, fridges, desks, chairs and tables. A courtyard with bench tables offers space for the students to relax and socialize. A palisade fence and guard house offers security for the residents. ** The building is fully accredited by TUT. Other features include: Inverter for passage lights in case of load shedding Wifi Backup water system: 10,000L Water tanks *** The seller is a VAT vendor*** *** At Simply Properties, we pride ourselves on providing personalized service to each one of our clients. Our team of experienced Property Practitioners is committed to helping you find the perfect property, whether you're looking to buy or sell. With our extensive knowledge of the local market and our dedication to customer satisfaction, we are confident that we can help you achieve your real estate goals. Contact us today to learn more about how we can assist you.