1416 m² Business For Sale in Boksburg

FANTASTIC RESIDENTIAL INVESTMENT PROPERTY - 12 FAMILY SIZED FLATLETS IN PRIME LOCATION !
EXCELLENT COMMERCIAL PROPERTY IN ABOVE AVERAGE CONDITION !!!

SPACIOUS FULL FLATLETS WITH LARGE FAMILY ROOMS, FULL KITCHENS, MODERN BATHROOMS !

FULLY TILED UNITS AND MODERN FINISHES !

LONGSTANDING TENANTS WITH LEASES IN PLACE !

11x LOCK UP / SECURE COVERED PARKINGS AND COMMUNAL GARDEN AREA !

GREAT LOCATION !!!

***Inviting all interested parties, as all reasonable offers will be considered.***
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This FANTASTIC Block of Flats Offers:

Excellent condition Property, very well maintained and boasting the right address

Multi Level Face brick Property
12 Flats - Multi Level (2 Floors) Zoned : Res 4
All with Modern Floor and Wall Tiling
Neat Kitchens and Bathrooms - great condition !
Large main bedrooms and Extra Volume Family Rooms, with access to balconies or the garden area for Ground floor Units.

Zoning Residential 4
GLA 1256sqm
Stand 1416 Sqm 60% Coverage
FAR 1.3
Replacement Value R10.3m
Insured Value R17.05m (Nov 2018)

Income Details:

- 8 spacious and neat 2-bedroom units @ R4 850
Total R38 800pm

-4 Equally Comfy 1 Bed Units @ R3 930
Total R15 720pm

Gross Income at R54 520pm
(All units with pre paid meters - usage are billed - monthly from Building Main Meter account - and recovered.)
Portions of Water billed monthly at flat rates to Units

Net Expenses R13k pm

Net Income Monthly: R41500 (ROI 11% @ R4.7m)

**In our opinion the Current rentals on these Units are fairly conservative **and the current yield could easily be improved for units of these specs.**

(A Professional Valuation Certificate is available on file - Valued at R10.3m )

Currently 1 Unit Vacant

To view this Property or for any further information, contact us without delay.

Extras"
Covered and secure Parkings
Large Lovely Communal Garden area
Prime Location
A grade Building Condition

Upgraded Units tiled and renovated by the Owner.

Reason for Selling; Location / Re Location of Owners

Exceptional investment opportunity presenting a Lucrative opportunity for seasoned investors and newcomers alike

*****Inviting all interested parties, as all REASONABLE offers will be considered.*****