Commercial for sale at 288 Eleventh Avenue
Prime student-focused investment minutes from UP Prinshof and Steve Biko, large erf for on-site facilities and student beds potential, 84 apartments with extensive parking.
A+ GRADE RESIDENTIAL BUILDING IN GEZINA.
This property is sold as a cluster with a neighbouring property for R30M.
Total amount for both properties: R83M.
Please enquire with us on the detail of the 2nd property.
Two adjacent buildings with dropped fences and shared security point.
Owner is selling both buildings together.
OCCUPIED BY NORMAL FAMILIES.
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: R6 320 0000.00 PER ANNUM
CURRENT NET INCOME: R4 425 000.00 000.00 PER ANNUM
84 X APARTMENTS WITH OWN KITCHEN, LIVING ROOM AND BATHROOM.
MIX:
48 X 1.5 BEDROOMS (67M2)
36 X 2.5 BEDROOMS (82M2)
PARKINGS:
65 X PARKING; 45 X GARAGES
STUDENT ACCOMMODATION POTENTIAL:
372 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: 900M TO UP PRINSHOF; 600M TO STEVE BIKO ACADEMIC; 2.7KM TO TVET/TUT
R18 600 000.00 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.
Listed for sale at R53,000,000
Gezina is a well-established, centrally located residential suburb in Pretoria that offers residents convenient access to essential amenities, major transport routes, and a blend of historic charm and modern urban living.
