308 m² Commercial space in Salt River

Rare opportunity to acquire a fully tenanted residential investment property in Salt River, offering strong holding income and exceptional development potential.

The property comprises 18 residential units and generates a gross annual income of R1 200 000, with a 10 CAP rate at the asking price of R9 450 000.

Situated in one of Cape Towns fastest growing mixed-use precincts, the property benefits from GB5 zoning, making it suitable for a wide range of future redevelopment opportunities.

Property Highlights:

Fully tenanted.

18 residential units.

GLA Section size: 308 sqm.

Erf size: 308 sqm.

Gross annual income: R1 200 000.

Gross annual expenses: R240 000.

10 cap rate.

Prime Salt River location.

Strong redevelopment potential.

Development Rights:

GB5 General Business 5 zoning.

Floor Factor: 4.0

Maximum height: 25 metres approximately 6 8 storeys, subject to approvals.

Permitted uses include Residential apartments, offices, retail, hotels and aparthotels, medical and institutional uses, and service trades excluding industrial uses.

This is an ideal opportunity for investors seeking immediate rental income with the added benefit of long-term capital growth and redevelopment in a high-demand urban node.

For more information or to arrange a viewing, contact TJ Dlamini.