RESIDENTIAL BUILDING IN ARCADIA FOR SALE - 2 KM TO TUT/TVET IDEAL FOR STUDENT ACCOMMODATION

FULL TITLE BUILDING FOR SALE

BRILLIANT LOCATION - 2KM to TUT and TVET in Arcadia

20 X EXTRA LARGE BACHELOR UNITS - each with own bathroom and kitchen

WITH OFFICE RIGHTS

AGE OF BUILDING: ± 65 YEARS

PRICE: R13 000 000.00

TRANSFER COST OPTIONS: PROPERTY TRANSFER WITH THE PMT OF 10% TRANSFER DUTY

TOTAL UNITS IN BUILDING: 20

FLOORS: 4 x RESIDENTIAL LEVELS

LIFT: 1 X SCHINDLER LIFT

MIX OF UNITS AND SIZES: BACHELORS X 20 UNITS (50M2)

ZONING: SPECIAL RESIDENTIAL WITH OFFICE RIGHTS

PRE-PAID METERS: ELECTRICITY PRE-PAID METERS IN EACH UNIT

PARKINGS AND GARAGES: 7 UNDER COVER PARKINGS (EACH LET AT R600.00 PM)

S/Q AND STOREROOMS: 1 X SERVANTS QUARTER AND 1 X STOREROOM

ERF SIZE: 910M2

GLA: 1000M2

GROSS INCOME PM: R123 000.00

CURRENT EXPENSES PM: +-R25 000.00 on average

Cleaner/Caretaker: R5 400.00

Night Guard: R4 875.80

Insurance: R1 175.48

Schindler’s Lift: R2 418.62

Municipal Account: +-R12 000.00 (Winter months +-R15 000.00)

CURRENT TYPE OF TENANT: WORKING PEOPLE, GOVERNMENT AND HOSPITAL EMPLOYEES

PERMANENT EMPLOYEES: ONE CLEANER/CARETAKER @ R5 000.00PM

ESTIMATED STUDENT BEDS: WITH SUBDIVISION, 4 X BEDS PER FLAT X 20 = 80 X BEDS

(8M2 FOR SINGLE ROOMS; 14M2 FOR SHARING ROOMS)

± STUDENT GROSS INCOME: 80 X R4 500.00 = R400 000.00 PM

(R5 000.00 X BEDS ALLOWED MINUS 50% EXPENSES WILL BE R200 000.00 NETT PM)

± STUDENT CONVERSION COST: R800 000.00

(±R10 000.00 PER STUDENT – INCLUDES FURNITURE, APPLIANCES, LAUNDRY, CURTAINS)

DISTANCE TO UNIVERSITIES:

UP 700M TO UP BASIC MEDICAL SCIENCE CAMPUS (STEVE BIKO)

TUT MAIN CAMPUS 6.6KM

TUT ARCADIA CAMPUS 2 KM

TVET MAIN CAMPUS 2KM

UNISA CAMPUS 3.8KM

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.