SECTIONAL TITLE RESIDENTIAL BUILDING FOR SALE - 42 X APARTMENTS IN ARCADIA

A+ GRADE RESIDENTIAL BUILDING IN ARCADIA FOR SALE.

SECTIONAL TITLEBUILDING - NO TRANSFER DUTY PAYABLE.

NOT VAT REGISTERED.

OCCUPIED BY NORMAL FAMILIES AND GOVERNMENT EMPLOYEES.

LESS THAN 1% VACANCIES.

ALL MUNICIPAL ACCOUNTS UP TO DATE.

FULL MAINTENANCE PLAN TO KEEP THE PROPERTY AS A-GRADE.

SCHINDLER LIFT IN WORKING CONDITION AND UPGRADED.

CURRENT GROSS INCOME: R3 217 000.00 PER ANNUM

CURRENT NET INCOME: R2 040 000.00 PER ANNUM

EXPENSES: R1 176 000.00

42 X APARTMENTS WITH OWN KITCHEN, LIVING ROOM AND BATHROOM.

MIX:

30 X 1.5 BEDROOMS (71M2)

12 X 2.5 BEDROOMS (81M2)

PARKINGS:

2 X PARKING; 37 X GARAGES

STUDENT ACCOMMODATION POTENTIAL:

180 X STUDENT BEDS

(4 X STUDENTS IN A 1 BEDROOM; 4 X STUDENTS IN A 1.5 BED; 5 X STUDENTS IN A 2 BED)

8M2 PER SINGLE ROOM MINIMUM; 14M2 PER SHARING ROOM AS PER NSFAS REQUIREMENT)

LARGE ERF WITH SPACE FOR STUDENT ACCOMMODATION FACILITIES, LIKE LAUNDRY, ENTERTAINMENT, STUDY, KIOSK AND GYM.

LOCATION: 1.8M TO UP PRINSHOF; 1.5M TO STEVE BIKO ACADEMIC; 850M TO TVET/TUT

R9 000 000.00 POTENTIAL STUDENT GROSS INCOME P/A

SELLER REQUIREMENT: PROOF OF AT LEAST 10% DEPOSIT AND 11% FOR TRANSFER COSTS

NO ACCESS WILL BE GIVEN WITHOUT THIS.

DISCLAIMER:

We made every effort to ensure the accuracy of the information on this property at the time of listing.

It is advised that the purchaser does a thorough due diligence to verify the information.

Should any cost or detail change, the broker cannot be held liable for any omissions, errors or differences.