A+ GRADE RESIDENTIAL BUILDING IN RIETFONTEIN.
OCCUPIED BY NORMAL FAMILIES AS TENANTS.
This property is sold as a cluster with a neighbouring property for R57M.
Please enquire with us on the detail of the 2nd property.
Two adjacent buildings with dropped fences and shared security point.
Owner prefers to sell both buildings together.
LESS THAN 1% VACANCIES - WAITING LIST OF TENANTS.
ALL MUNICIPAL ACCOUNTS UP TO DATE.
FULL MAINTENANCE PLAN TO KEEP THE PROPERTY AS A-GRADE.
SCHINDLER LIFT IN WORKING CONDITION AND UPGRADED.
ELECTRICITY METERS FOR EACH FLAT WITH APP - CONVENIENT TO TENANTS.
FULL TITLE BUILDING: TRANSFER DUTY PAYABLE (+-11%)
NOT VAT REGISTERED.
CURRENT GROSS INCOME: R2 990 0000.00 PER ANNUM
CURRENT NET INCOME: R2 092 000.00 000.00 PER ANNUM
40 X APARTMENTS WITH OWN KITCHEN, LIVING ROOM AND BATHROOM.
MIX:
30 X 1.5 BEDROOMS (73M2)
10 X 2.5 BEDROOMS (85M2)
PARKINGS:
16 X PARKING; 28 X GARAGES
STUDENT ACCOMMODATION POTENTIAL:
170 X STUDENT BEDS
(4 X STUDENTS IN A 1 BEDROOM; 4 X STUDENTS IN A 1.5 BED; 5 X STUDENTS IN A 2 BED)
8M2 PER SINGLE ROOM MINIMUM; 14M2 PER SHARING ROOM AS PER NSFAS REQUIREMENT)
LARGE ERF WITH SPACE FOR STUDENT ACCOMMODATION FACILITIES, LIKE LAUNDRY, ENTERTAINMENT, STUDY, KIOSK AND GYM.
LOCATION: 3.4KM TO UP PRINSHOF; 3KM TO STEVE BIKO ACADEMIC; 11KM TO UP ONDERSTEPOORT
R8 500 000.00 POTENTIAL STUDENT GROSS INCOME P/A
SELLER REQUIREMENT: PROOF OF AT LEAST 10% DEPOSIT AND 11% FOR TRANSFER COSTS
NO ACCESS WILL BE GIVEN WITHOUT THIS.