30 Bedroom Property for Rent in Boksburg R6 990 000. 03 Jun 2024

Property features

R6 990 000
Available
Min Term
30 Bedrooms
30.0 Bathrooms
0 Living Room/s
Garage for 0 car/s
Outside Parking for Label car/s

Property Details

INCREDIBLE INCOME GENERATING PROPERTY UP FOR SALE ! PRIME LOCATION - LOCATED IN A QUIET & PEACEFUL SUBURB ! FULLY TENANTED - LONGSTANDING TENANTS ! FULLY LET BUILDING WITH 30 SPACIOUS, WELL MAINTAINED UNITS ! YIELDING EXCELLENT RETURNS ! (16,5% net ROI) MASSIVE SCOPE TO IMPROVE YIELD BASED ON GOING RATES OF SIMILAR UNITS IN THE AREA ! / ******* OWNER WILL LOOK AT OFFERS FROM R6.7m APPROVED AND SERIOUS BUYERS ONLY ! ****** PRICE JUST REDUCED SUBSTANTIALLY. This Excellent Property offers the following: 1 x HUGE 3 bed Unit 26 x SPACIOUS 2 Bed Units - Double volume Main bedrooms 3 x Spacious 1 Bed Units FULLY LET Spacious Units of average overall Finishes, still in excellent condition. Huge bedrooms and Lounges offering comfortable living. Tenants enjoy a Large Lounge / Family Room, combined with Dining area. All Kitchens are of good size and fitted with bic's. Spacious Bathrooms offers a bath, basin and toilet in all units. All with pre paid meters. Outside rooms for the cleaner. Large area under cement floor for Washing Lines Ideal Braai area in the corner of the stand for family braais and gatherings. Building span over 4300 Sqm and consists 3 Levels. Boasting with ample parking - with 2 Carports per Unit (Total 62 carports) The building is situated in a quiet residential suburb with Lovely neighboring properties, shops, churches and schools. The property was build by the Owner in the late 1960's and used as a very healthy monthly income stream to date. Time has now arrived for the owner to realize their Fixed assets and hence the only reason to sell this excellent Investment Property. Income: Gross Income per month currently at R140k Average rental rates could easily be improved based on area rates. Less expenses, Net income R96k per month ! NO TRANSFER DUTIES !!! The Property is Corporate owned, in a Property owning company, offering the advantage of saving massively on transfer Duty costs, as the Shares in the company are for sale. Future Potential to Increase the Current Yield: While already an attractive investment opportunity, this block of flats also offers the potential for excellent yield appreciation. The implementation of strategic renovations or enhancements, such as modernizing the units, the savvy investor can further enhance rental returns and property value. Comparative rental / rates of similar units in the area allows for such improvements comfortably and without risk. All Financials on this company are available upon request. Call us to discuss this impressive opportunity without delay !