Property Details

EXCELLENT COMMERCIAL PROPERTY IN ABOVE AVERAGE CONDITION !!! SPACIOUS FULL FLATLETS WITH LARGE FAMILY ROOMS, FULL KITCHENS, MODERN BATHROOMS ! FULLY TILED UNITS AND MODERN FINISHES ! LONGSTANDING TENANTS WITH LEASES IN PLACE ! 11x LOCK UP / SECURE COVERED PARKINGS AND COMMUNAL GARDEN AREA ! GREAT LOCATION !!! ***Inviting all interested parties, as all reasonable offers will be considered.*** / This FANTASTIC Block of Flats Offers: Excellent condition Property, very well maintained and boasting the right address Multi Level Face brick Property 12 Flats - Multi Level (2 Floors) Zoned : Res 4 All with Modern Floor and Wall Tiling Neat Kitchens and Bathrooms - great condition ! Large main bedrooms and Extra Volume Family Rooms, with access to balconies or the garden area for Ground floor Units. Zoning Residential 4 GLA 1256sqm Stand 1416 Sqm 60% Coverage FAR 1.3 Replacement Value R10.3m Insured Value R17.05m (Nov 2018) Income Details: - 8 spacious and neat 2-bedroom units @ R4 850 Total R38 800pm -4 Equally Comfy 1 Bed Units @ R3 930 Total R15 720pm Gross Income at R54 520pm (All units with pre paid meters - usage are billed - monthly from Building Main Meter account - and recovered.) Portions of Water billed monthly at flat rates to Units Net Expenses R13k pm Net Income Monthly: R41500 (ROI 11% @ R4.7m) **In our opinion the Current rentals on these Units are fairly conservative **and the current yield could easily be improved for units of these specs.** (A Professional Valuation Certificate is available on file - Valued at R10.3m ) Currently 1 Unit Vacant To view this Property or for any further information, contact us without delay. Extras" Covered and secure Parkings Large Lovely Communal Garden area Prime Location A grade Building Condition Upgraded Units tiled and renovated by the Owner. Reason for Selling; Location / Re Location of Owners Exceptional investment opportunity presenting a Lucrative opportunity for seasoned investors and newcomers alike *****Inviting all interested parties, as all REASONABLE offers will be considered.*****