Full title residential complex for sale with land development opportunity

FULL TITLE RESIDENTIAL COMPLEX FOR SALE

Entity is registered for VAT.

ZERO VAT TRANSFER possible if Purchaser entity is registered for VAT.

Purchase Price DOES NOT include VAT.

UPSIDE: DEVELOPMENT OPPORTUNITY FOR 200 ADDITIONAL UNITS

DESCRIPTION

Residential Complex in Silverton (Colbyn Valley Nature Area) opposite Medicross.

80 X Units with kitchen, bathroom, bedroom and parking.

Beautiful open parks with ample space to park - massive stand with established garden.

Totally fenced.

Well maintained, fully tiled and painted.

Great architecture to optimize space.

LOCATION

- Corner stand on Pretoria Road in Silverton

- Opposite shopping center with all vital amenities

- Safe area on bus route to CBD and East

- Right opposite Medicross

- Zero VAT Transfer

SPECIFICATIONS

- 80 x apartments (zoned for another 200 x units)

- 107 x parkings

CONFIGURATION and APPROPRIATE RENT

- 70 X 1 BEDROOM UNITS (28m2) R4 800.00 - R5 000.00

- 4 x BACHELOR UNITS (20m2) R4 000.00

- 4 x 2 BEDROOM UNITS (39m2) R6 000.00

- 1 x 3 BEDROOM UNITS (47m2) R7000.00

- 1 x LAPA (Let as church) R8 800.00

TOTAL GLA: 2 187m2

ERF SIZE: 1.3 HA (13 000m2)

FINANCES

TOTAL MONTHLY GROSS INCOME +-R380 000.00

COST RECOVERY FROM TENANTS +-R60 000.00

TOTAL GROSS INCOME +-R440 000.00

TOTAL MONTHLY EXPENSES +-R200 000.00

TOTAL MONTHLY NET INCOME +-R240 000.00

REZONING COMPLETED: SPECIAL 28 for residential block

- MAXIMUM 6 X LEVELS

- MAXIMUM 280 X UNITS IN TOTAL (POTENTIAL ADDITIONAL 200 X UNITS)

For the full investment pack, please contact us.

Minimum 10% refundable deposit required.

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.