54 Bedroom Apartment For Sale in Johannesburg

Property description

ALL OFFERS FROM R15 MILLION CONSIDERED BY SELLER

The property comprises of 2 blocks of residential apartment units. The 24 units are made up of 1, 2 and 3 bedrooms that are over 3 floors. The property offers 28 covered parking bays on the ground floor and the basement area together with staff rooms.

INVESTMENT PROFILE:
All units are currently tenanted and comprise of the following;
1 x 1 bedroom - 60m2
16 x 2 bedrooms - 110m2 each
7 x 3 bedrooms - 125m2 eac
28 x covered parking bays

INVESTMENT CALCULATION;
We have used the net income capitalisation method of valuation to determine the value of this property.
Gross Annual Income: R2 300 000
Annual Expenses: R545 845
Net Annual Income: R1 754 155

ASKING PRICE EXCLUDING VAT R20 000 000
Yield: 8.7%