Commercial for sale at 579 Adcock Street
Effortless urban living near Steve Biko and UP — ideal for student housing with shared security, Schindler lifts, 48 self-contained apartments, low vacancies and strong income.
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.
Listed for sale at R30,000,000
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.
