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Ideal urban investment offering steady rental income and easy student access, just 150m from TVET South Campus; mixed-use building with retail workshops and six apartments.
BUILDING NAME: LENCOS BUILDING
AGE OF BUILDING: ± 33 YEARS
LOCATION: 288 KGOSI MAMPURU STREET, PRETORIA CENTRAL, COT
PRICE: R3 200 000.00
TRANSFER COST OPTIONS: DEEDS OFFICE TRANSFER (PROPERTY IN NATURAL NAMES, NO VAT)
TOTAL UNITS IN BUILDING: 6 x Residential Apartments, 2 x Retail Shops. Ground floor has 2 x shops and
Floor 1 and 2 has 3 x apartments each.
MIX OF UNITS AND SIZES: 8 x UNITS IN TOTAL
- 6 x Residential Apartments
Flat 1: Bachelor flat (37m2)
Flat 2: 1 Bedroom flat (58m2)
Flat 3: 1 Bedroom flat (68m2)
Flat 4: Bachelor flat (37m2)
Flat 5: 1 Bedroom flat (58m2)
Flat 6: 1 Bedroom flat (68m2)
- 2 x Retail Shops
Shop 1: 280m2 (vehicle workshop with toilet and kitchenette)
Shop 2: 118m2 (convenient store with toilet and kitchen)
ELECTRICITY AND WATER: ELECTRICITY PRE-PAID METERS IN EACH UNIT. WATER BILLED TO EACH TENANT
PARKINGS AND GARAGES: 4 X PARKING FOR SHOPS. PUBLIC PARKING OPTIONS IN AREA
S/Q AND STOREROOMS: NONE
VACANCIES: 0%
ERF SIZE: 545M2
TOTAL LETTABLE AREA: 724M2
GROSS INCOME PA: R640 262.52
CURRENT EXPENSES PA: +-R180 312.00
CURRENT NET INCOME PA: +-R459 950.52
TOTAL TRANSFER AND BOND REGISTRATION COST: R255 000.00
ROI: ANNUAL NET INCOME DIVIDED BY COST OF INCLUSION (PURCHASE PRICE + TRANSFER COSTS) X 100
= 13%
CURRENT TYPE OF TENANT: NORMAL WORKING FAMILIES (NOT STUDENTS)
PERMANENT EMPLOYEES: ONE TEMPORARY CLEANER/CARETAKER
ESTIMATED STUDENT BEDS: 20 X BEDS CONSERVATIVELY (SOFT CONVERSION)
4 X Beds in a 1 Bedroom; 2 x Beds in a Bachelor
(8M2 FOR SINGLE ROOMS; 14M2 FOR SHARING ROOMS)
LOCATION FOR STUDENT ACCOMMODATION: 150M TO TVET SOUTH CAMPUS
± STUDENT NETT INCOME: 20 X R5 000.00 = R100 000.00 PM X 10 MONTHS PER ANNUM
R1 000 000.00 GROSS INCOME P/A
± STUDENT CONVERSION COST: +-R200 000.00
(±R10 000.00 PER STUDENT – INCLUDES FURNITURE, APPLIANCES, LAUNDRY, CURTAINS)
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 R3,200,000
Price reduced by 7.8% to R2,950,000
Price reduced by 2.0% to R2,890,000
Pretoria Central offers a vibrant urban lifestyle with historical significance, convenient access to government institutions, and a diverse mix of residential and commercial properties, appealing to those seeking an affordable and centrally located home.
* Distances and amenities are approximate.
