R2,300,000 | 355m² Apartment Block For Sale in North End

CALLING ALL INVESTORS:

THE PROPERTY CONSISTS OF THE FOLLOWING:
4 x 3 Bedroom apartments
Every apartment is fitted with a prepaid electricity meter

Erf Size: 355m2
Estimated Floor Size 416m2
The current zoning is IND2 (commercial bond only)

Asking Price is R2 300 000
The building is fully let and is generating R27 010 in rental per month + R2114 in water recovery
The monthly expenses are R9779
The net monthly income is R19 345
Cape Rate of 10.09%

The building could easily be converted in an accredited Student Accommodation
12 bedrooms to accommodate 24 students @ R4200/each (R100 800)
4 Bathrooms
4 Kitchens
4 Lounges

Call us today to discuss all options available and secure a private viewing.

“The information provided is believed to be true and correct but does not form part of any agreement”