40 Bedroom Apartment Block For Sale in Merrivale

R8,500,000

1-20 3 Vear Rd, 3 Vear Road

Monthly Bond Repayment R92,115.10
Calculated over 20 years at 11.75% with no deposit.

Web Ref No RL3624585

Block of 20 flats

Each of the 20 flats (57 square meters) consist of 2 Bedrooms with built-in cupboards, 1 Bathroom with bath basin & loo, Open plan Lounge Dining area and Kitchen also with built-in cupboards and stove, with a balcony off the lounge on first floor. Each unit has access to a covered parking bay. Separate water meters and Pre-paid electricity. Rental is R5,800 per flat
This property is Freehold. A perspective Purchaser could sectionalise the 20 flats and sell them separately if required.
The average net profit per month over the last 12 months generated from the rentals would support a bond of +/- R7,083,500.
To convert the property from Freehold to Sectional Title would cost +/- R85,000.
Transfer cost of this purchase would be +/- R817,094.
This means that if you sold the flats for R550,000 each, you'd realise a net profit of +/- R1,600,000.

Features

Bedrooms 40
Bathrooms 20
Recep. Rooms 2
Floor Size 1,140m²
Land Size 1,842m²
Carports/Parkings 20
Monthly Rates R9,212.00

Extras Balcony
Built-in Wardrobes
Covered Parking
Electric Gate
Open Plan
Tiled Floors
Totally Fenced

Downloads

First Floor Plan.pdf	0 bytes		Download
Ground Floor Plan.pdf	0 bytes		Download
Plan.pdf	0 bytes		Download
Side Elevations.pdf	0 bytes		Download
Cross Sections.pdf	0 bytes		Download