NEW
Web Ref ORL39384
R4,200,000
Monthly Bond Repayment R41,229.02
Calculated over 20 years at 10.25% with no deposit.
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Monthly Rates
R3,596
R3,596
CALLING ALL INVESTORS: PRIME LOCATION FOR STUDENT ACCOM & BUILD EQUITY IN THIS RARE BLOCK OF FLATS
Existing block of flats in Richmond Hill with stunning ocean view
THE PROPERTY CONSISTS OF THE FOLLOWING:
9 sectional title apartments including 22 bedrooms, 11 bathrooms and 11 parking bays
We recommend purchasing all sections individually to save the transfer duty applicable on R4.2M which will be a saving of R 239,356
This is a once in a lifetime opportunity to purchase an entire block of flats and possibly obtain 100% finance by the bank depending on your credit and affordability
Current Income/expenses
Monthly Rental Income: R 57 520
Monthly Expenses: R 24 624.95
Monthly Net Income: R 32 895.35
Annual Net Income: R 394 744.20
Cap Rate 9.40% (Return on investment on a cash purchase)
Change this old model into a profitable registered student accommodation and triple your income
Projected Income/expenses as a registered student accommodation
Monthly Rental Income: R 135 756
Monthly Expenses: R 40 478.54
Monthly Net Income: R 95 277.71
Annual Net Income: R 952 777.10
Cap Rate 22.69% (Return on investment on a cash purchase)
“The information provided is believed to be true and correct but does not form part of any agreement”
THE PROPERTY CONSISTS OF THE FOLLOWING:
9 sectional title apartments including 22 bedrooms, 11 bathrooms and 11 parking bays
We recommend purchasing all sections individually to save the transfer duty applicable on R4.2M which will be a saving of R 239,356
This is a once in a lifetime opportunity to purchase an entire block of flats and possibly obtain 100% finance by the bank depending on your credit and affordability
Current Income/expenses
Monthly Rental Income: R 57 520
Monthly Expenses: R 24 624.95
Monthly Net Income: R 32 895.35
Annual Net Income: R 394 744.20
Cap Rate 9.40% (Return on investment on a cash purchase)
Change this old model into a profitable registered student accommodation and triple your income
Projected Income/expenses as a registered student accommodation
Monthly Rental Income: R 135 756
Monthly Expenses: R 40 478.54
Monthly Net Income: R 95 277.71
Annual Net Income: R 952 777.10
Cap Rate 22.69% (Return on investment on a cash purchase)
“The information provided is believed to be true and correct but does not form part of any agreement”
Features
Pets Allowed
No
Interior
Bedrooms
22
Bathrooms
11
Kitchen
9
Furnished
No
Exterior
Security
No
Parkings
11
Pool
No
Sizes
Floor Size
936m²
Land Size
648m²
STREET MAP
STREET VIEW
Xavier Salsone
Candidate Property Practitioner Registered with PPRA(FFC 202570039500000) Show number View my listings WhatsApp