Property features

R 2 200 000
10 Bedrooms
5.0 Bathrooms
0 Living Room/s
Garage for 2 car/s

Property Details

A very well maintained and managed residential block on the border of Observatory in Johannesburg - offering existing excellent current rental returns. This block of flats offers a potential investor opportunity of immediate returns.

The block consists of 5 sectional title units which are currently let and yielding a monthly return of approximately R33 000 per month or about R 360 000 per annum gross income.
There are 4 flats within the main structure and a 5th flat above the existing garages.

Section (flat) units no 1 -3 in the main block consists of :
-4 rooms within each flat

A communal bathroom and communal kitchen
-Prepaid electricity configured to each section/ room
within a flat.
Section 1 = R8900 rent per month in total
Section 2 = R 7000 per month in total
Section 3 = R 6400 per month in total
( Size of each flat approximately 85 sqm each)

Section (flat)unit no 4 have one tenant ( family)= R 5300 per month
Section 5 = R 3195 per month which is also one family / tenant and positioned above the garages

The block has 2 garages and 2 covered carports.

It is located on a quiet and neat neighborhood.

For more information or a private viewing please call.

5 sectional title apartments
2 Garages and 2 carports
Well maintained and managed block of apartments in central location
Investor opportunity to enter the market
Electricity is pre paid and water is metered
Pet Friendly: Yes

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Andrew Watson

Watson Properties

0824964598

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Watson Properties

0114523487

[email protected]

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