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Multi Unit Income Generating Investment
updated on Apr 08, 2024
R 2 600 000

WEB REF: 709049

Property Summary
  • Selling Price POA
  • Property Type Commercial - Retail
  • Erf Size 352.0000 m2


Description

Bidding opens at R2 600 000 ONLINE AUCTION Bidding Start Time: Wednesday 24 April 2024 @ 09:00 Bidding End Time: Thursday 25 April 2024 @ 14:30 Registration is essential by Monday 22 April 2024. Pre-Auction Offers may be considered. Auction Finance Available. For more information, please contact the listing agent. DESCRIPTION: TURNKEY MULTI-UNIT INCOME GENERATING INVESTMENT! This multi-unit/block of apartments is situated in Fairfield Estate, Parow. Situated in a rental demand area close to public transport, Sanlam Centre, and TFG head office. The building consists of: • 2 x Two Bedroom apartments • 3 x One Bedroom apartments • 3 x Studio Apartments Fully occupied with good longstanding tenants. Total gross income- R40 250 per month. Rates and maintenance- R1600 Water and Electricity- R5500 Water and Electricity Recovered + R5500 JOJO TANK. NET INCOME: 38 650 +- 15% NET RETURN. Excellent ROI for this area. These opportunities at this price point does not come around often. DETAILS: • Erf no: 24588 • Erf size: 352m² 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.

Additional Features
      Property Address

      5 Brug Street Fairfield Estate Parow

      Contact Agent(s)

      eMail Agent(s)