R 27 500 000 | business property for sale in joubert park

Chesterfield House is a full-title block comprising of 54 flats, mainly two-bed units plus retail and basement parking, located in the heart of Joubert Park, Johannesburg. A high-demand node within the inner city. The property has a blue-chip tenant as its main anchor on the ground floor, on a Rea Vaya route. Very neat, well-run block with high occupancy. Due diligence items are available once the offer is in place. Features 54 Flats in total, comprising: ? 2 x 3 Bedroom ? 36 x 2 Bedroom ? 15 x 1 Bedroom ? 1 x Bachelor Basement Parking 11 Commercial Units Selling Price: R27 500 000 • Actual Income YTD Apr 21 – Mar 22: R 5.206.430.41 • Direct Property Costs YTD Apr 21 – Mar: R 2.642.912.32 • Break down Monthly Actual YTD Apr 21 – Mar 21: - Income R 433.869.20 p.m. - Expenses R 220.242.69 p.m. Gross Monthly Residential Rental R 433,869.20 Less: Expenses R 220,242.69 Net Rental Income R 213,626.51 Annual Net Income R2,563,518.12 Financial Summary - Matchbox Calculation Cap rate valuation: Potential Asset Value 10% R 25,635,181.20 11% R 23,304,710.18 12% R 21,362,651.00 13% R 19,719,370.15 14% R 18,310,843.71 15% R 17,090,120.80 16% R 16,021,988.25