R 1 450 000 | 10 bed property for sale in orange grove

Investors, this one is ready to earn from day one. The property sits on a 495 m² stand in Orange Grove and offers 10 rental units, a layout built for steady monthly rental income in a well-connected suburb with strong tenant demand, The accommodation: 4 of the units have their own showers, and 1 unit has a full en-suite. The shared facilities are 2 separate toilets with showers and 1 extra toilet with a bathtub, so tenants are well covered. Shared amenities: a separate communal kitchen fitted with stoves, plus a separate scullery, keeps cooking areas organised and easy to manage, Security and parking: covered parking for 4 cars behind a remote-controlled gate Tenant appeal: water and electricity are included in the rent. Tenants get simple, predictable living costs, which helps keep units full. Orange Grove is close to Louis Botha Avenue, with easy access to Rosebank, Sandton and the Johannesburg CBD, so you'll attract working professionals and students. Monthly Rental income R33,000 Rates and taxes -R1,100 Water -R6,000 Electricity (prepaid) -R5,000 Net profit R20,900 That's R250,800 a year, a 17.3% net yield on R1,450,000 (27.3% gross). The R20,900 doesn't allow for any vacancy or maintenance yet. If 5% of rent is set aside for each, the realistic figure is about R17,600 a month (14.6%). Rent can still be escalated to fetch a higher amount once certain issues are resolved.