R 2 200 000 | business property for sale in bellevue

A very well maintained and managed residential block on the border of Observatory in Johannesburg - offering existing excellent current rental returns. This block of flats offers a potential investor opportunity of immediate returns. The block consists of 5 sectional title units which are currently let and yielding a monthly return of approximately R33 000 per month or about R 360 000 per annum gross income. There are 4 flats within the main structure and a 5th flat above the existing garages. Section (flat) units no 1 -3 in the main block consists of : -4 rooms within each flat - A communal bathroom and communal kitchen -Prepaid electricity configured to each section/ room within a flat. - Section 1 = R8900 rent per month in total Section 2 = R 7000 per month in total Section 3 = R 6400 per month in total ( Size of each flat approximately 85 sqm each) Section (flat)unit no 4 have one tenant ( family)= R 5300 per month Section 5 = R 3195 per month which is also one family / tenant and positioned above the garages The block has 2 garages and 2 covered carports. It is located on a quiet and neat neighborhood. For more information or a private viewing please call. 5 sectional title apartments 2 Garages and 2 carports Well maintained and managed block of apartments in central location Investor opportunity to enter the market Electricity is pre paid and water is metered Pet Friendly: Yes