A unique opportunity to earn a large rental income (realistically R54 000 per month) from this multi-unit property in the heart of Orchards.
There are 7 separate, rentable units on the property, plus the main house which has 3 bedrooms. The units consist of:
Three custom designed, modern, studio units each with upstairs loft and own bathroom and kitchenette, currently generating R22 900 combined.
A fourth, larger studio unit, generating R7 000.
Three custom-designed, compact, budget units, generating a combined R7 100. These 3 units share a bathroom and kitchen.
The main house could easily have the main bedroom altered to be a standalone rental unit earning R6 000, and the rest of the main house (with 2 bedrooms) could earn R11 000.
A good indicator of return on investment for rental properties is the gross yield. A good gross yield is 10% p.a. or more. At a list price of R5.4m, the gross yield is a very good 12% p.a.
A key financial benefit! Investing in multi-unit rentals in a sectional-title complex incurs costs of levies and rates on each unit. For this property there are no levies and only one COJ account! Major cost saving.
Other features:
Huge investment in solar energyhardly requiring any draw from Eskom.
Most of the units have their own private patios.
Kitchen in the main house has all the mod cons: fully renovated, Smeg stove (gas + electric) Caesarstone-type tops, etc.
Main house has very spacious open-plan living areas (lounge, dining, kitchen), with laminate wood flooring throughout.
Beach bar outside relaxation area, with beach sand.
Parking inside the property for 6 cars.
Excellent location in the heart of Orchards
Good securitysecurity gates, electric fence.
Owner is amenable to including most of the furniture in the deal
Key Property Features
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