45 Bedroom House in Colenso

An opportunity to acquire a fully sectionalised apartment block at 3642 Doornkop Street, Colenso. Known as Montaque, the property comprises 30 apartments across three floors, with a total scheduled lettable area of approximately 1,752 m2

According to the supplied unit schedule, the accommodation comprises:

15 one-bedroom apartments, approximately 49 m2 each.

15 two-bedroom apartments, ranging from approximately 65 m2 to 72 m2.

Each apartment has a separate lounge, kitchen and full bathroom, with built-in cupboards and tiled finishes.

The property is currently vacant and requires renovation, offering buyers the opportunity to refurbish the apartments and establish a residential rental investment. Electricity is currently disconnected.

Sale Conditions

The seller is seeking a prompt cash sale in the propertys current condition, on a voetstoots basis. The proposed sale requires the purchaser to settle outstanding amounts owed to Alfred Duma Municipality and uThukela, estimated by the seller at approximately R500,000, and arrange and pay for the required compliance certificates. These conditions and the confirmed outstanding balances must be recorded in the sale agreement.