R 450 000 | 20 bed property for sale in mthatha rural

20 rental room flats located Kwa-Payne on the N2 going to East London or coming from East London. This is a great opportunity for a well-established property developer, the property is in the right location (next to the tar-road) and the property is making a steady income of about R 13000-R15000 per month. With some renovations and property management this property could double it's income, the property is less than 3 kilometres away from shell ultra City making it attractive to student accommodation landlords. The property has plenty parking space, easily accessible to the main road and to public transporation. However, the property needs some renovations and there are some property defects that need to be taken into consideration. - There's a section in the building that is built out of clay bricks. - There are some rooms were you will need to install individual electric boxes. The property consists of the following : -20 flats (80% occupancy) - X3 water tanks - X3 Pit tiolets - Fenced yard Note : Rural Properties are a cash transaction, Major banks do not fund (No Homeloan applications) rural properties.