An exceptional income-generating investment opportunity offering a five-bedroom main residence together with seven additional rental flats. The main home features a beautifully renovated kitchen flowing into an open-plan dining area, with a separate scullery for added convenience. A passage leads to five bedrooms and a bathroom comprising a shower, basin and toilet, with an additional separate guest toilet. The property also offers six attached flats, each with an en-suite bathroom and kitchenette facilities, as well as a seventh, larger standalone flat featuring its own kitchen and en-suite bathroom.
The property currently generates a combined rental income of R33,500 per month, with the main house and all seven flats sublet. This presents an opportunity for an investor to take over the existing rental arrangements, subject to the applicable lease agreements, and benefit from an established income stream from the outset. Its location offers access to key amenities including Brookside Mall, Midlands Private Hospital and uMgungundlovu TVET College. The accommodation configuration may appeal to tenants working or studying in the surrounding area who are looking for convenient and affordable rental accommodation.
NON-DISTRESSED AUCTION:
The seller has elected to sell through a non-distressed auction, creating an opportunity for buyers to compete for this income-generating investment through a transparent, deadline-driven process.
The advertised start-to-bid price is R1,500,000. This serves as the entry point for the bidding process and is not an indication of the seller's reserve price or the price at which the property is guaranteed to be sold. The seller further reserves the right to accept or reject offers at their discretion, subject to the applicable sale terms.
Buyers are strongly encouraged to register and participate in the live Zoom auction, where they will have the opportunity to compete transparently for the property. Registration is FREE, and interested parties are encouraged to arrange viewings and complete their due diligence ahead of auction day.
This is not a distressed sale. It is an alternative selling method that creates competition, establishes market interest and gives serious buyers an opportunity to put forward their best offer.
Contact Harcourts Hilton, your local property experts, to arrange an exclusive viewing and register your interest.