******REDUCED....REDUCED...REDUCED ...!!!
VERSATILE 3 STOREY BUILDING !
IDEALLY LOCATED IN A PRIME LOCATION, BUSY STREET NEAR MALL !
MASSIVE POTENTIAL ! PRICE NEG !
OFFERING A GOOD MIX OF RENTAL OPTIONS !
FULLY TENANTED !!!
FULLY OCCUPIED LONGSTANDING TENANTS IN RETAIL COMPONENT !
REASONABLE OFFERS WILL BE CONSIDERED !
/
This Lucrative Investment opportunity offers:
Second Floor/ TOP FLOOR: 13 Rooms -
(Upgraded rooms used as a Lodge / BnB currently)
10 x Rooms - 4 with bathrooms
Large Communal bathroom neatly tiled servicing the other rooms.
3 x Rooms on monthly leases
Daily cash books available - hugely Lucrative (R45k pm on av for 10 rooms)
1St Floor: (x17 rooms - mix with & without bathrooms)
1 x 1 Bed Flat with bathroom R3300
4 x Bachelor flats with Bathrooms @R2000
3 x Rooms without bathrooms@ R1500 - communal bathrooms on the floor servicing the other rooms.
7 x Single Rooms @ R1700
2 x Communal Bathrooms and 2 x Toilets
Ground Floor:
6 x Retail shops
Based on its Location - a medium to high demand for street faced shops exist in the area.
12,3% cap rate for Decentralized Street-Front shops
Income
- Shops: R23 650 pm
- Flats: R37 700 pm
- Top Floor rooms - daily & monthly rentals +-R43k (average)pm
Total Monthly Gross R104 350
Annual Income R1 252 200
Vacancy 5% R63K
Gross R1 189 000
Expenses R518k
Net Income R 55 881pm
R.O.I. 15%
Open Market Val R4,5M
Total GLA 2550sqm
Zoning Bus 2
Secure parking yard with access gate
EXPENSES Summary:
Salary R16 000 Caretaker
Municipality R23 402
Wifi R450
Telkom R400
CMS Security - Alarm Monitoring R450
Laundry and cleaning R700
Maintenance R1 800
Total R43 202
Offers from R3.5 - R3.7m sought - B A R G A I N !!!!!
Exterior needs TLC - PRICE NEG FROM R4.5 TO R3.7
Call today to snatch up this money spinner !!
SUPERB LOCATION to turn it into a goldmine