Deceased Estate Shafiq Naser (Master Ref no.021259/2023)
ONLINE AUCTION
Bidding Start Time: Wednesday 27 May 2026 @ 09:00
Bidding End Time: Thursday 28 May 2026 @ 14:30
Registration is essential by Monday 25 May 2026.
Pre-Auction Offers may be considered. Auction Finance Available.
For more information, please contact the listing agent.
DESCRIPTION:
Calling Investors fantastic investment.
An opportunity to own a fully tenanted entire block of 25 tenanted flats comprising of:
• 22 x 2 Bedroom apartments - High demand area and high rental
• 2 x 1 Bedroom
• 1 Studio unit
• 19 Parking bays
• Few minutes from CBD and close to all amenities
• Possible student accommodation
• Rental income of ±R192,672 per month or ±R2,312 million per annum - Generate fantastic returns.
• Total gross yearly income to ±R2,312,064 million , expenses ±10% - R231,206 – Net ±R2,080,857.
Make an offer today.
DETAILS:
• Erf no: 23684, Cape Town
• Erf size: 914m²
• Zoning: General Residential 4
PAYMENT TERMS:
2.5% Deposit & 10% Auctioneers fee (excl. VAT on fee); Payable on the fall of the hammer by means of EFT only. Balance payable on transfer.
REGISTRATION REQUIREMENTS:
To bid at the auction you need to provide a copy of your identity document and current proof of residence (not older than 3 months) as well as a R20,000 refundable registration fee.
DISCLAIMER:
The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Auctioneers. Bidders must conduct their own investigations prior to bidding.
Property Address
5 Norfolk Street Maitland Cape Town
