AGE OF BUILDING: ± 33 YEARS
LOCATION: SUNNYSIDE EAST, COT
TRANSFER COST OPTIONS: SHARE TRANSFER (No Transfer duty payable – saving R1.17m)
Conveyancer transfer cost: +-R115 000.00
TOTAL UNITS IN BUILDING: 20
FLOORS: 4 x RESIDENTIAL LEVELS + GROUND
MIX OF UNITS AND SIZES:
4 X BACHELOR UNITS (36M2)
12 X 1.5 BEDROOM UNITS (66M2)
4 X 2.5 BEDROOM UNITS (81M2)
ERF SIZE: 996M2
GLA (GROSS LETABLE) +-1260M2 (only the apartment floor areas)
GBA (GROSS BUILT) +-1700M2 (10% for hallways, garages, parking, common areas)
PRE-PAID METERS: WATER AND ELECTRICITY PRE-PAID METERS IN EACH UNIT
PARKINGS AND GARAGES: 8 UNDER COVER PARKINGS AND 7 X LOCKUP GARAGES
S/Q AND STOREROOMS: 1 X SERVANTS QUARTER AND 1 X STOREROOM
CURRENT NETT INCOME PA: R1 049 000.00
AVERAGE VACANCY %: 0% FULLY OCCUPIED
CONDITION OF BUILDING: NEAT AND CLEAN, LOW MAINTENANCE WITH 90% FACEBRICK
CURRENT TYPE OF TENANT: WORKING PEOPLE, GOVERNMENT AND HOSPITAL EMPLOYEES
PERMANENT EMPLOYEES: ONE CLEANER/CARETAKER @ R6 000.00PM.
24 HOUR ON SITE. STAYS FREE OF CHARGE IN CARETAKER FLAT
ESTIMATED STUDENT BEDS: WITH SUBDIVISION, 92 X BEDS WILL BE APPROVED
(8M2 FOR SINGLE ROOMS; 14M2 FOR SHARING ROOMS)
± STUDENT GROSS INCOME: 92 X R4 500.00 = R414 000.00 PM X 10 MONTHS
(R4 500.00 X BEDS ALLOWED MINUS 50% EXPENSES)
± STUDENT CONVERSION COST: R1 000 000.00
(±R10 000.00 PER STUDENT – INCLUDES FURNITURE, APPLIANCES, LAUNDRY, CURTAINS)
GENERAL NOTES: - Electric Fence with CCTV Surveillance, Night Guard Security
- Caretaker Apartment with store facilities and washing lines
- 1 x Schindler Lift