24 Bed Apartment/Flat for Sale KwaMevana Howick

KwaMevana, Howick, KwaZulu-Natal
ID 1114725

24 Bedroom Property for Sale in KwaMevana KwaZulu-Natal

R2 500 000

Property Type

Apartment/Flat

Bathrooms

24.0

Bedrooms

Building

461m²

Property Type

Apartment/Flat

Bathrooms

24.0

Bedrooms

Building

461m²

Property features

R2 500 000
24 Bedrooms
24.0 Bathrooms
24 Living Room/s
Garage for 0 car/s
Rates R1473 pm
Pet Friendly

Property Details

This property consists of 20 brand new studio flats with a separate shower, toilet and hand basin in four blocks of five rooms with each having a solar powered geyser above and separate electricity meters for each unit. These units bring in R2000 per month and it also has a main house bringing in R2500 per month plus four single rooms bringing in R1000 each. The income potential is therefore 20 X R2000 1 X R2500 3 X R1000 Totaling R45 500 with costs being mainly shortfall of electricity not recovered and rates etc of approximately R5 500 thereby netting R40 000 per month. Plans for a further 20 rooms have been submitted to Umgeni and are awaiting approval. These will be a double story on the road side of the existing buildings. Note: Selling price excludes VAT.