Property Details

GENERATING R522,000 P/A

MUST SELL !!!

PROPERTY DETAILS:

The property consists of 15 separate apartments ranging in size.

1 × 18m² Apartment:

Currently being rented @ R 1,500

6× 24m² Apartment:

Currently being rented @ R 2,500

5× 30m² Apartment:

Currently being rented @ R 3,000

3 × 40m² Apartment:

Currently being rented @ R4,000

Potential rental income of R43,500

Currently 12 apartments are rented, bringing in a nett income of R36,500.

3 × 24m² Apartments are not being occupied.

Total rental income R7,500.

All apartments are equipped with en-suite bathrooms and kitchens.

All the apartments have separate prepaid electricity meters.

Water consumption is divided by the tenants.

There are 4 geysers installed throughout the property.

The property is situated in the heart of Primrose, close to all amenities and en-route to public transport.

The property offers ample parking for all the tenants and is very secure with a high perimeter wall and electric gates.

All the tenants are happy staying at the property and would be prepared to sign new leases with the new purchasers. Alternatively you can decide if you would like to keep the tenants or place your own tenants.

ESTATE LATE - MASTER REFERENCE: 011577/2020