R 9 000 000 | 18 bed property for sale in overport

18 SECTIONAL TITLE UNITS IN SOUGHT AFTER OVERPORT Rare opportunity to acquire more than 60% of an existing 32-unit block of S Title apartments. High rental demand (Brickfield / Felix Dlamini Road) Each unit is 1 bedroom and has a separate kitchen, toilet and shower Some have balconies 1 parking per unit (unallocated areas currently) Majority of units have prepaid water and electricity installed 4 stories high (no lift) Access controlled Fibre connectivity TBC All units are tiled and in average condition THE PROPERTY IS SOLD ONLY ON THE FOLLOWING BASIS • All units to be transferred together to 1 new Owner • Vacant or tenanted • Average rentals between R4,500 – R5,500 pm • Average price per unit is below Transfer Duty threshold The building comprises of 2 blocks. The 18 units that are for sale are located in the back block. Two units in back block are excluded from this transaction but their owners may consider selling their unit to a committed Buyer who is intent of acquiring the entire back building. Possible uses as an Investment property with current gross rental income of R90000, Student commune ( Body Corp Permission) Retirment Block or a family property for the entire family to live in one block. Building requires a fresh coat of paint on the exterior walls but is a good investment opportunity. Viewing by appointment only. Lets Talk