This spacious property has everything an investor could ask for producing strong returns and yields, with very little to almost no risk. Current tenant contracts are in place for 2023, with applicable lease agreements and a month-to-month notice period.
The expenses are currently R60 000 p/a. Conservatively, the rental income produced by the property amounts to R379 200 p/a, with the potential for even more.
Let''s take a tour of the property and the locational attributes:
The property is located in a peaceful cul-de-sac in the heart of Potchefstroom Central, 1.5KM from the North-West University and within 2KM of all relevant and important amenities.
The stand size is 1581 sq. and the total building area is approximately 575 sq. The property features a main building of 444 sq. that is divided in two sections each producing R6000 & R8000 p/m, respectively. There is a loft with its own entrance that is adjoined to the main house which can be rented out separately for even higher income!
There are 5 additional units on the property, which comprise of 3x Bachelor Units generating R3000, R3600, and R3800 p/m. There are 2x One Bedroom Units generating R3500 & R3700 p/m, respectively.
Furthermore, there is a communal pool that is shared by all the tenants on the property, and there is also an automatic irrigation system to keep your lawn healthy and green!
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The First Section of the Main House consists of:
3 Bedrooms & 2 Bathrooms | Expansive Living Area | Kitchen with Large Pantry & Scullery | Workshop | Storeroom | Single Garage with Manual Doors | Carport with 1x car and 1x trailer parking | Alarm System | Loft with option to rent out separately
The Second Section of the Main House Consists of:
3 Bedrooms | 2 Bathrooms | Large Living Area | Kitchen | Bank Safe | 2x Storeroom/Linen Closets | Single Garage with Manual Doors | Carport with 1x car and 1x trailer parking | Alarm System
Bachelor Unit Key Features:
Kitchenette | Bathroom | Pre-Paid Meter | Parking
One Bedroom Unit Key Features:
Kitchenette | Bathroom | Living Area | Pre-Paid Meter | Parking
Monthly Expense Breakdown
Armed Response= R500 | WIFI= R500 | Garden Service= R600 | Pool= R300 | Rates & Taxes= R1200 | Water/Electricity= R1400 | General Maintenance= R500
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Key Property Features
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