AGE OF BUILDING: ± 33 YEARS
LOCATION: SUNNYSIDE EAST, COT
TRANSFER COST OPTIONS: SHARE TRANSFER (No Transfer duty payable – saving R1.17m)
Conveyancer transfer cost: +-R98 000.00
TOTAL UNITS IN BUILDING: 20
FLOORS: 4 x RESIDENTIAL LEVELS + GROUND
MIX OF UNITS AND SIZES:
4 X BACHELOR UNITS (36M2)
12 X 1.5 BEDROOM UNITS (66M2)
4 X 2.5 BEDROOM UNITS (81M2)
ERF SIZE: 996M2
GLA (GROSS LETABLE) +-1260M2 (only the apartment floor areas)
GBA (GROSS BUILT) +-1700M2 (10% for hallways, garages, parking, common areas)
PRE-PAID METERS: WATER AND ELECTRICITY PRE-PAID METERS IN EACH UNIT
PARKINGS AND GARAGES: 8 UNDER COVER PARKINGS AND 7 X LOCKUP GARAGES
S/Q AND STOREROOMS: 1 X SERVANTS QUARTER AND 1 X STOREROOM
CURRENT GROSS INCOME PA: R1 524 600.00
CURRENT EXPENSES PA: R310 300.00
CURRENT NET INCOME PA: R1 214 300.00
AVERAGE VACANCY %: 0% FULLY OCCUPIED
CONDITION OF BUILDING: NEAT AND CLEAN, LOW MAINTENANCE WITH 90% FACEBRICK
CURRENT TYPE OF TENANT: WORKING PEOPLE, GOVERNMENT AND HOSPITAL EMPLOYEES
PERMANENT EMPLOYEES: ONE CLEANER/CARETAKER @ R6 000.00PM.
24 HOUR ON SITE. STAYS FREE OF CHARGE IN CARETAKER FLAT
ESTIMATED STUDENT BEDS: SOFT CONVERSION: 76 X BEDS
HARD CONVERSION: 92 X BEDS
(8M2 FOR SINGLE ROOMS; 14M2 FOR SHARING ROOMS)
± STUDENT GROSS INCOME: 92 BEDS X R5 000.00 X 10 MONTHS
(R5 000.00 X BEDS ALLOWED MINUS 50% EXPENSES)
± STUDENT CONVERSION COST: R1 000 000.00
(±R10 000.00 PER STUDENT – INCLUDES FURNITURE, APPLIANCES, LAUNDRY, CURTAINS)
GENERAL NOTES: - Electric Fence with CCTV Surveillance, Night Guard Security
- Caretaker Apartment with store facilities and washing lines
- 1 x Schindler Lift
DISCLAIMER:
We made every effort to ensure the accuracy of the information on this property at the time of listing.
It is advised that the purchaser does a thorough due diligence to verify the information.
Should any cost or detail change, the broker cannot be held liable for any omissions, errors or differences.