Property Details

The property comprises of 2 blocks of residential apartment units. The 24 units are made up of 1, 2 and 3 bedrooms that are over 3 floors. The property offers 28 covered parking bays on the ground floor and the basement area together with staff rooms. INVESTMENT PROFILE: All units are currently tenanted and comprise of the following; 1 x 1 bedroom - 60m2 16 x 2 bedrooms - 110m2 each 7 x 3 bedrooms - 125m2 eac 28 x covered parking bays INVESTMENT CALCULATION; We have used the net income capitalisation method of valuation to determine the value of this property. Gross Annual Income: R2 300 000 Annual Expenses: R545 845 Net Annual Income: R1 754 155 ASKING PRICE EXCLUDING VAT R20 000 000 Yield: 8.7%