Versatile 3 storey building !
Ideally located in a prime location !
Massive potential !
Offering a good mix of rental options !
Fully occupied retail component !
Reasonable offers will be considered !
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This Lucrative Investment opportunity offers:
Top Floor:
(Upgraded rooms used as a Lodge / BnB currently)
10 x Rooms - 4 with bathrooms
Large Communal bathroom neatly tiled servicing the other rooms.
1St Floor:
2 x 1 Bed Flats with bathrooms
4 x Bachelor flats with Bathrooms
6 x Bachelor Flats without bathrooms - communal bathrooms on the floor servicing the other rooms.
Ground Floor:
6 x Retail shops
Based on its Location - a moderate to high demand for street faced shops exist in the area.
12,3% cap rate for Decentralized Street-Front shops
Income
- Shops: R23 650 pm
- Flats: R33 700 pm
- Top Floor rooms - if used as monthly rentals +-R33k
Total Monthly Gross R90 350
Annual Income R1 084 200
Vacancy 10% R108k
Gross R975 780
Expenses R424k
Net Annual Income R4 479 000 pm
Open Market Val R4,5M (@ 12.3 Cap rate)
*****Above being a guide for info only ****
Total GLA 2550sqm
Zoning Bus 2
Secure parking yard with access gate
Current Income (after vacancies) R96k
Net Income Currently R55k pm
Offers from R3.7m sought - B A R G A I N !!!!!
Call today to snatch up this money spinner !!
SUPERB LOCATION to turn it into a goldmine
Electricity Included
TV
Water Included
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