Incredible income generating property up for sale !
Prime location - located in a quiet & peaceful suburb !
Fully tenanted - longstanding tenants !
Fully let building with 20 spacious, modern upgraded units and 4 shops !
Yielding excellent returns ! (15% net ROI)
ABSOLUTE GEM ! Hurry !!!
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This Lucrative Investment Property Offers:
Secure complex with access gate, parking facilities, value added amenities/shops and a extremely neat property !
9 x 1 Bed units (40-61sqm) - Spacious lounge and bedroom, all upgraded with stunning kitchens and bathrooms !
2 Bachelor units (32sqm) - Spacious living areas and stunning new kitchens and bathrooms !
9 x 2 Bed / Duplex Units (67-106sqm) - spacious units beautifully upgraded with quality finishes - Main bedrooms
Double Volume !
Only a handful of Units still to be renovated, completion estimated by end of the year of all units by the owner.
Some units currently under renovations / upgrading as we speak.
Shops (48-56sqm) on main road comprises of a Hair Salon, Electronics repair shop and a Dry Cleaner shop catering to the units as well as the public.
One office space / shop previously used as a manager's office is currently available for rent. (office sizes 9sqm and 28sqm)
Longstanding quality tenants with leases in place.
All Residential units have metered electricity.
Shops have their readings taken monthly for individual consumption.
All other municipal services and expenses are allocated and recovered from the monthly rentals / tenants.
Rate of Income: (excluding services)
1 Bed Flats:
R4140
R3850
R2900
R4700
R3800
R4500
R3025
R3800
R3600
R2200
2 Bed / Duplex Units:
R4500
R4750
R4750
R5500
R4050
R6200
R5900
R4650
R4300
Shop 1 R4400
Shop 2 R3500
Shop 3 R2750
Shop / Office 4 & 5 R1700 - R2200
Total Gross R 125 000 (including services)
Municipal Exp R33000
Net income R92000 / R1.1m pa (15%)
Another Rare find - a "MUST" to add to your portfolio !
Do not hesitate on this opportunity ...
Call me today !
Electricity Included
Scenic View
TV
Water Included
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