Recently painted, this 4-unit face brick & plaster apartment block in Judith''s Paarl has been well maintained and is well run by the owner.
The block comprises 4 large, 2 bedroomed units of 120m2 with lounge, bathroom, separate toilet, kitchen and balcony.
Other features include: foyer, parquet & tiled floors, burglar bars, security gates, BICs, single parking bay per unit, prepaid water and electricity, cellar, stairway, iron fire escape at rear, courtyard, clothes lines, palisade fencing, security motor gate.
There are also 2 staff rooms on the roof which can simply be converted into income-producing bachelor flats.
Rental income is R230 000 per annum which translates to a yield of 19% This yield can easily be increased as rentals have not been adjusted for a number of years and the opportunity for extra income by the conversion of the staff rooms on the roof
JUDITHS PAARL
Judith''s Paarl is a suburb of Johannesburg, South Africa. It is a small suburb found on the eastern edge of the Johannesburg central business district (CBD), tucked between the suburbs of Lorentzville and Bezuidenhout Valley, with Troyeville and Kensington to the south.
The suburb was founded on one of the original farms on the Witwatersrand, after a strip of land was sold from the farm Doornfontein. It originates around 1896. The suburb is possibly named after a daughter of the Lorentz family. Other sources are Judith Cornelia Estresia, wife of the original farmer owner F.C. Bezuidenhout. It had a terminus for the Johannesburg tramway network on the corner of Ascot Road and First Street.
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