Commercial - Block of Flats on Auction in Parklands

Description

ONLINE AUCTION Bidding Start Time: Wednesday 24 June 2026 @ 09:00 Bidding End Time: Thursday 25 June 2026 @ 14:30 Registration is essential by Monday, 22 June 2026. Pre-Auction Offers may be considered. Auction Finance Available. For more information, please contact the listing agent. DESCRIPTION: The block of flats is well managed, with lower maintenance costs and quality systems already in place, making it easier to manage and maintain long-term. The property consists of 4 apartment blocks comprising: • 3 Double-Storey, three-bedroom units • 2 Studio apartments Property Features: • 1 Garage • Back storeroom • Gas stoves installed in each unit • Laundry room • Parking bay available for each unit • Prepaid electricity meters installed • Prepaid water meters installed (activation still required) • Two units fitted with solar panels • Wi-Fi available throughout the property • Top gate system installed – Centurion D5 Evo • Mezzanine flooring throughout the units Rental Income: • Three-bedroom units are currently rented at ±R15,000 per month each • Studio apartments rented at ±R8,500 per month each Additional Information: • Tenants are on long-term leases • Conveniently located a short distance from Bayside Mall and Parklands Shoprite. DETAILS: • Erf no: 27869, Milnerton • Erf size: 621m² • Zoning: Single Residential 1 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.