FANTASTIC INCOME GENERATING PROPERTY UP FOR SALE !
PRIME LOCATION - LOCATED ON A MAIN ROAD CLOSE TO TOP SCHOOLS, SHOPPING MALLS AND AMENITIES !
FULLY TENANTED ! GREAT UPSIDE - LET AT BELOW GOING RATES IN THE AREA !
SPACIOUS UNITS ! GREAT FOR FAMILIES !
FULLY LET BUILDING WITH SPACIOUS, MODERN / UPGRADED UNITS AND LONG ESTABLISHED TENANTS IN THE SHOPS !
YIELDING EXCELLENT RETURNS ! (15% net ROI)
R1.17m p.a.
ABSOLUTE GEM ! HURRY !!!
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This Lucrative Investment Property Offers:
Secure complex with access gate, parking facilities, value added amenities/shops, exceptionally maintained property !
20 Flatlets:
9 x 1 Bed units (40-61sqm) - Spacious lounge and bedroom, all upgraded with stunning kitchens and bathrooms !
2 Bachelor units (32sqm) - Spacious living areas and stunning new kitchens and bathrooms !
9 x HUGE 2 Bed / Duplex Units (67-106sqm) - spacious units beautifully upgraded with quality finishes - Main bedrooms Double Volume !
Some units currently under renovations / upgrading as we speak. (Completed since)
3 Units std / original features
Shops (48-56sqm) on main road comprises of a Hair Salon, and a Dry Cleaner shop catering to the units as well as the public.
One office space / shop previously used as a manager's office is currently available for rent / own use. (office sizes 9sqm and 28sqm)
Longstanding quality tenants with leases in place.
All units have pre paid meters for electricity.
Communal Laundry Room with coin operated Machine
Ample Washing Lines
Outside Toilets
Renovated Units gutted down to Plumbing and electrical - all brand new
All other municipal services and expenses are recovered
Water meters all units
Rate of Income: (excluding services)
1 Bed Flats:
R4140
R3850
R2900
R4700
R3800
R4500
R3025
R3800
R3600
R2200
2 Bed / Duplex Units:
R4500
R4750
R4750
R5500
R4050
R6200
R5900
R4650
R4300
Going rates average in similar Units between R8k - R9.5k
Shop 1 R3500
Shop 2 R2750
Shop / Office R1700 - R2200
Total Gross R 125 000 (including services)
Municipal Exp R33000
Net income R92000
Insurance R5 349
Cleaner R1 933
Net after Costs R 84718 R.O.I 15%
Absolutely a Rare find - a "MUST" to add to your portfolio !
Do not hesitate on this opportunity ...
Call me today !