35 X unit apartment building - student accommodation for 157 x beds no transfer duty

Building Name: BERGHOF

Location: TILEBA - PRETORIA NORTH

Sectional Title Building - all 35 x sections/apartments form part of the sale.

Total Units: 35 X SECTIONAL TITLE UNITS

Configuration and Current rent:

- 17 x TWO BEDROOM APARTMENTS (69M2 - 77M2)

Current rent: R3 750.00 (Market related rent: R5 000.00 to R5 900.00)

- 13 x LARGE 1.5 BEDROOM APARTMENTS (78M2 - 85M2)

Current rent: R3 800.00 (Market related rent: R5 000.00 to R6 500.00)

- 5 x Medium 1.5 BEDROOM APARTMENTS (62M2 - 63M2)

Current rent: R3 500.00 (Market related rent: R3 900.00 to R4 500.00)

40 X PARKINGS

Current NSFAS Grant is R5 000 pm. R50 000.00 pa.

CURRENT GROSS MONTHLY RENT: R142 000.00

MARKET RELATED MONTHLY RENT: R185 000.00

CURRENT EXPENSES: +-R60 000,00PM

CURRENT NET INCOME: +-R82 000.00

MARKET RELATED INCOME: +-R125 000.00

If the building and apartments are renovated, market related rent will apply.

Km to Universities: 14,6km to TUT Main Campus

11,5km to Ga-Rankuwa Campus

21,3km to SMU Main Campus (Medunsa)

This building can accommodate 157 x STUDENTS.

Transfer Costs: NO TRANSFER DUTY

Bond registration and Transfer cost only +-R300 000.00

Expenses on Student Accommodation: Budget for 40% of income

Current Vacancy: 2% to 5% while seller upgrades apartment for the next tenant

Condition of building: Buildings structure is very good. Needs minor maintenance.

Total GLA: 2 647m2

Zoning: RES 4

Total Floors: 3

No lift

Contact me for the full investment pack.