Gezina building for sale with 48 x apartments

A+ GRADE RESIDENTIAL BUILDING IN GEZINA.

This property is sold as a cluster with a neighbouring property for R53M.

Please enquire with us on the detail of the 2nd property.

In total for both properties: R83M.

Two adjacent buildings with dropped fences and shared security point.

Owner prefers to sell 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: R3 440 000.00 PER ANNUM

CURRENT NET INCOME: R2 400 000.00 PER ANNUM

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

MIX:

24 X 1 BEDROOMS (63M2)

12 X 1.5 BEDROOMS (65M2)

12 X 2.5 BEDROOMS (82M2)

PARKINGS:

26 X PARKING; 19 X GARAGES

STUDENT ACCOMMODATION POTENTIAL:

204 X STUDENT BEDS

(4 X STUDENTS IN A 1 BEDROOM; 4 X STUDENTS IN A 1.5 BED; 5 X STUDENTS IN A 2.5 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 HOSPITAL; 2.7KM TO TUT AND TVET

R10 2 000.00 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.