Property features

R4 985 000

Property Details

New ‘Old South’ Investment Listing. Offers 22 Upgraded Rental Units And Excellent Investment Returns Building/Block of flats offers 20, smartly listed 2-bedroom flats, on a very well secured 1500square meter stand. Together with a further free-standing, 2-bedroom ‘cottage’ and an additional batchelor’s unit – ideal for a Caretaker, for example So a total of 22 income-generating units on the property. With Building itself in good condition and all flats fully refurbished. Tiled throughout, granite-top kitchen fittings and recently repainted. Overall, property offers a standard well above what’s typically available in the area Very well-secured and with extensive parking space, for up to 12 vehicles in secured and tarred courtyard. As well as spacious, fully paved and secured safe space for kids to play in front of building – providing extra tenant value Flats all between 63 and 67 square meters in size. Offer two proper bedrooms, an additional spacious lounge, kitchen, bathroom and some also an open-plan dining space. As mentioned, all smartly upgraded Roof of building and all electrical control boards upgraded only a few years ago. Building also fully prepaid – in terms of electricity and water to all flats Also well located. Close enough to retail centre and good public transport Building in the kind of condition that offers a very cost-effective investment proposition. Currently representing a monthly rental income of around R95000 Potential investors will do their own preferred ROI calculations. But, once viewed, will no doubt appreciate the excellent investment value the building represents, at this kind of Asking Price Asking R4 985 000