PRIME LOCATION - ARCADIA BUILDING NEWLY UPGRADED

A+ GRADE RESIDENTIAL BUILDING IN ARCADIA.

PRIME LOCATION!

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 LIFTS IN WORKING CONDITION AND UPGRADED.

FULL TITLE BUILDING: TRANSFER DUTY PAYABLE (+-11%)

NOT VAT REGISTERED.

CURRENT GROSS INCOME: R3 880 000.00 PER ANNUM

CURRENT EXPENSES: R1 300 000.00 PER ANNUM

CURRENT NET INCOME: R2 580 000.00 000.00 PER ANNUM

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

MIX:

24 X 1.5 BEDROOMS (75M2)

24 X 2.5 BEDROOMS (85M2)

PARKINGS:

12 X PARKING; 36 X GARAGES

STUDENT ACCOMMODATION POTENTIAL:

216 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: 2KM TO UP PRINSHOF; 1.8KM TO STEVE BIKO ACADEMIC; 750M TO TVET/TUT

R10 800 000.00 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.

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.