352 m² Retail For Sale in Fairfield Estate

Bidding opens at R1,950,000

ONLINE AUCTION
Bidding Start Time: Tuesday 28 May 2024 @ 09:00
Bidding End Time: Thursday 30 May 2024 @ 14:30
Registration is essential by Monday 27 May 2024.
Pre-Auction Offers may be considered. Auction Finance Available.
For more information, please contact the listing agent.

DESCRIPTION:
TURNKEY "low risk" MULTI UNIT INCOME GENERATING INVESTMENT PROPERTY!

This multi unit/block of apartments is situated in Fairfield Estate, Parow. Situated in an rental demand area close to public transport, Sanlam Centre and TFG head office. The property is leased by long standing solid tenants. No tenant issues.

Building consists of:
• 8 Apartments - X2 - 2 Bedroom apartments, x3 - 1Bedroom apartments and x 3 Studio apartments.
• Fully occupied with good longstanding tenants.
• Total gross income: R40,250 per month.
• Rates and maintenance: R1,600
• Water and Electricty: R5,500
Water and Electricty Recovered + R5,500
JOJO Tank.

NETT INCOME: R38, 650
±18% NETT RETURN. Excellent ROI for this area.

These opportunities at this price point does not come around often.
PRE-AUCTION OFFERS MAY BE CONSIDERED.

DETAILS:
• Erf no: 24588
• Erf size: 352m²

PAYMENT TERMS:
2.5% Deposit & 10% Auctioneers fee (excl. VAT on fee); Payable on the fall of the hammer by means of EFT only. Balance payable on transfer.

REGISTRATION REQUIREMENTS:
To bid at the auction you need to provide a copy of your identity document and current proof of residence (not older than 3 months) as well as a R20,000 refundable registration fee.

DISCLAIMER:
The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Auctioneers. Bidders must conduct their own investigations prior to bidding.