High-Income Investment Property with 14 One-Bedroom Cottages
Excellent income-generating investment opportunity situated on a large 2,024m² stand, offering strong rental income and further growth potential.
The property consists of 14 one-bedroom cottages, each fitted with a gas stove for convenient and cost-effective living. Out of the 14 cottages, 12 are completed and income-generating, while 2 cottages are approximately 75% complete, giving the new owner further upside once completed.
The property currently generates an estimated rental income of approximately R73,000 per month, with each cottage renting at around R6,000 per month. This makes it a strong cash-flowing investment with excellent rental appeal.
The property also benefits from solar panels for geysers, helping to reduce electricity usage and improve the efficiency of the units.
Key Features:
-Large 2,024m² stand
-14 x one-bedroom cottages
-12 completed cottages
-2 cottages approximately 75% complete
-Gas stoves fitted in the cottages
-Solar panels for geysers
-Estimated monthly rental income: R73,000
-Estimated water expense: R3,100 per month
-Estimated electricity expense: approximately R9,000 per month
-Strong investment and rental-income potential
-Monthly Income and Expense Overview
-Estimated gross rental income: R73,000 per month
-Estimated water expense: R3,100 per month
-Estimated electricity expense: R9,000 per month
-Estimated total monthly expenses: R12,100
-Estimated net income before rates, refuse, maintenance and other costs: R60,900 per month.
CASH BUYERS ONLY!!!!!!!!!!!!
This is an ideal opportunity for an investor looking for a multi-let property with existing income, room for further completion, and strong monthly cash-flow potential.