Merrivale · Apartment Block For Sale
1140 m² Apartment Block For Sale in Merrivale
- R 8,500,000
- 40 bd
- 20 ba
- 1140 m²
Each of the 20 flats (57 square meters) consist of 2 Bedrooms with built-in cupboards, 1 Bathroom with bath basin & loo, Open plan Lounge Dining area and Kitchen also with built-in cupboards and stove, with a balcony off the lounge on first floor. Each unit has access to a covered parking bay. Separate water meters and Pre-paid electricity. Rental is R5,800 per flat
This property is Freehold. A perspective Purchaser could sectionalise the 20 flats and sell them separately if required.
The average net profit per month over the last 12 months generated from the rentals would support a bond of +/- R7,083,500.
To convert the property from Freehold to Sectional Title would cost +/- R85,000.
Transfer cost of this purchase would be +/- R817,094.
This means that if you sold the flats for R550,000 each, you'd realise a net profit of +/- R1,600,000.
Property Information & Features
- Property Type
- Apartment Block
- Listing Type
- For Sale
- Location
- Merrivale, Howick
- Price
- R 8,500,000 · Get Pre-Qualified
- Price per m²
- R 7,456
- Floor Size
- 1140 m²
- Erf Size
- 1842 m²
- Bedrooms
- 40
- Bathrooms
- 20
- Residential Zoning
- Yes
Map & Nearby
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