Commercial - Block of Flats on Auction in Electric City

Description

ONLINE AUCTION Bidding Start Time: Wednesday 29 July 2026 @ 09:00 Bidding End Time: Thursday 30 July 2026 @ 14:30 Registration is essential by Monday, 27 July 2026. Pre-Auction Offers may be considered. Auction Finance Available. For more information, please contact the listing agent. DESCRIPTION: Unlock the potential of this partially completed residential investment situated in the heart of Electric City, Eersteriver. This property offers an exceptional opportunity for investors or developers looking to complete a project with strong income-producing potential. Designed and approved for six spacious one-bedroom flatlets, the development is already well underway. Three of the units are currently tenanted, providing immediate rental income while the remaining units can be completed to maximise your return on investment. Property Features: • Approved plans for 6 x one-bedroom flatlets • Partially completed development • 3 Units currently occupied, generating rental income • Remaining units ready to be completed to your preferred standard • Solid double-storey structure already in place • Off-street parking • Excellent opportunity to create a high-yield rental portfolio Whether you're an experienced investor or a first-time developer, this property offers the chance to add value and significantly increase your rental income once completed. Located in Dove Street, Electric City, the property enjoys convenient access to schools, public transport, shopping amenities, and major transport routes. Don't miss this rare opportunity to complete a development with income already being generated. Contact us today to arrange a viewing and explore the full potential of this investment. DETAILS: • Erf no: 7797, Eersteriver • Erf size: 288m² • Zoning: General 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.