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Live or invest in central Sunnyside East near hospitals and government precincts — a 20-unit income block with prepaid meters, CCTV, electric fence, lift, low-maintenance facebrick.
AGE OF BUILDING: ± 33 YEARS
LOCATION: SUNNYSIDE EAST, COT
TRANSFER COST OPTIONS: SHARE TRANSFER (No Transfer duty payable – saving R1.17m)
Conveyancer transfer cost: +-R98 000.00
TOTAL UNITS IN BUILDING: 20
FLOORS: 4 x RESIDENTIAL LEVELS + GROUND
MIX OF UNITS AND SIZES:
> 4 X BACHELOR UNITS (36M2)
> 12 X 1.5 BEDROOM UNITS (66M2)
> 4 X 2.5 BEDROOM UNITS (81M2)
ERF SIZE: 996M2
GLA (GROSS LETABLE) +-1260M2 (only the apartment floor areas)
GBA (GROSS BUILT) +-1700M2 (10% for hallways, garages, parking, common areas)
PRE-PAID METERS: WATER AND ELECTRICITY PRE-PAID METERS IN EACH UNIT
PARKINGS AND GARAGES: 8 UNDER COVER PARKINGS AND 7 X LOCKUP GARAGES
S/Q AND STOREROOMS: 1 X SERVANTS QUARTER AND 1 X STOREROOM
CURRENT GROSS INCOME PA: R1 524 600.00
CURRENT EXPENSES PA: R310 300.00
CURRENT NET INCOME PA: R1 214 300.00
AVERAGE VACANCY %: 0% FULLY OCCUPIED
CONDITION OF BUILDING: NEAT AND CLEAN, LOW MAINTENANCE WITH 90% FACEBRICK
CURRENT TYPE OF TENANT: WORKING PEOPLE, GOVERNMENT AND HOSPITAL EMPLOYEES
PERMANENT EMPLOYEES: ONE CLEANER/CARETAKER @ R6 000.00PM.
24 HOUR ON SITE. STAYS FREE OF CHARGE IN CARETAKER FLAT
ESTIMATED STUDENT BEDS: SOFT CONVERSION: 76 X BEDS
HARD CONVERSION: 92 X BEDS
(8M2 FOR SINGLE ROOMS; 14M2 FOR SHARING ROOMS)
± STUDENT GROSS INCOME: 92 BEDS X R5 000.00 X 10 MONTHS
(R5 000.00 X BEDS ALLOWED MINUS 50% EXPENSES)
± STUDENT CONVERSION COST: R1 000 000.00
(±R10 000.00 PER STUDENT – INCLUDES FURNITURE, APPLIANCES, LAUNDRY, CURTAINS)
GENERAL NOTES: - Electric Fence with CCTV Surveillance, Night Guard Security
- Caretaker Apartment with store facilities and washing lines
- 1 x Schindler Lift
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 R13,000,000
Sunnyside is a vibrant, centrally located suburb offering a mix of residential options and convenient access to amenities, making it a popular choice for students and young professionals.
* Distances and amenities are approximate.
