Fully Let! Prime Investment Opportunity in Molapo, Soweto!
This well-maintained property is an excellent opportunity for investors seeking a consistent rental income stream in the heart of Soweto. With 8 fully-rented studio units, this property offers both immediate returns and potential for even higher rental yields if converted to student accommodation. Its location in Molapo, a thriving community, ensures consistent demand from tenants.
Unit Features:
Each studio unit has been designed with efficiency in mind, ensuring maximum use of space and comfort for tenants.
• Open-plan design: Offering a versatile living space, the open-plan layout allows tenants to customize the area to suit their personal style and needs.
• Well-equipped kitchenette: The units come with built-in
cupboards, providing ample storage, and a dual stove system (both gas and electric), offering flexibility and cost savings for tenants.
• Bedroom area: A cozy bedroom area with built-in wardrobes, providing ample storage for personal belongings, ensuring a clutter-free living space.
• Sitting area: Ideal for relaxation and entertainment, with enough space to accommodate a small couch or TV stand.
• Bathroom: Each unit includes a modern bathroom fitted with a toilet and shower, designed for both functionality and ease of maintenance.
Building Highlights:
The property comes with several key features that enhance its appeal for tenants and add to the security and reliability of the investment.
• 15,000-litre Jojo tank: This sizable water tank ensures tenants have access to a continuous water supply, even in times of municipal water shortages.
• DSTV connection: Each unit is pre-wired for DSTV, a popular amenity among tenants, saving them installation costs and adding to the attractiveness of the units.
• Secure yard: The entire property is secured with a gated yard, providing peace of mind for tenants and reducing tenant turnover.
• Parking space: The property includes parking space for 4 cars within the yard, with additional parking for 2 cars available in the neighboring yard, offering extra convenience for tenants with vehicles.
Rental Income:
• Current Rental:
• 4 units at R2,800 per unit, generating R11,200
per month
• 4 units at R3,200 per unit, generating R12,800
per month
Total current monthly rental income: R24,000
• Potential as Student Accommodation:
• R4,513 per unit, which can be charged for student accommodation, increasing potential monthly income to R36,104 (based on 8 units).
This shift would significantly increase returns, making the property even more lucrative as a student rental, especially given the proximity to educational institutions and the growing demand for student housing in Soweto.
Annual Rental Income:
• Current Normal Rental Income:
R297,600 per annum (based on the current
rates).
• Potential as Student Accommodation (10
months):
R369,040 per annum, making the property an even stronger investment with minimal changes needed to realize this potential.
With solid infrastructure, prime location, and immediate rental returns, this property is a rare opportunity to secure a high-yielding investment in one of Soweto’s growing rental markets. Ideal for investors looking for both short-term and long-term rental strategies.
10 minutes away from Maponya Mall by taxi
5 minutes away from Jabulani Mall
Easy access to public transportation (The building is right on the main road).
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