11 SEPARATE SELF CONTAINED APARTMENTS WITH UPSIDES ERF 2091m2. INCOME GENERATOR PROPERTY

This property features 11 separate apartments, offering a current total rental income of R46,300 per month (R555,600 per annum).

Apartment Breakdown:
● 1 x 2-bedroom, lounge, kitchen, and bathroom unit @ R6,500
● 1 x 1-bedroom, lounge, and bathroom unit @ R4,700
● 4 x 1-bedroom, lounge, kitchen, and bathroom units @ R4,500 each
● 1 x 1-bedroom, lounge, kitchen, and bathroom unit @ R4,000
● 3 x Bachelor units with kitchen and bathroom @ R3,700 each
● 1 x Bachelor unit with kitchen @ R2,000

All current tenants are on month-to-month leases. Some have been long-standing residents for several years and are open to signing new leases with the new owner. The purchaser has the flexibility to either retain the existing tenants or replace them.
Four additional apartments are currently in the process of being completed, the property will be sold as is. The new owner will be responsible for completing these units at their own expense. This presents an excellent opportunity for the purchaser to generate additional income once the project is finished.