R 1 900 000 | apartment property for sale in malvern

For Sale: Deceased Estate comprising 12 Flats & 6 Retail Units located on Jules Street, Malvern, Johannesburg. This property is situated on a busy main road and is zoned as Business 1 with an estimated GLA of 1313 sqm. It has great income potential with an expected monthly rental income of R70 000 and is currently sold non-vacant. The area has a strong demand for both accommodation and retail, making this a great investment opportunity. Rates and taxes are zero-rated, providing an added advantage for buyers. Depending on how the deal is transferred, the transaction can be exempt from the transfer. Tenant Installation: It is currently illegally occupied; the seller is in the process of removing the occupants collecting rent illegally. The occupants are paying rent however they are paying the wrong people. Power: Currently owing R2 700 000 for electricity, (the council does offer a discount). The property is currently owing R3 300 000 in total, but the seller has secured a settlement of R1 000 000, making this an even more attractive investment option. Don't miss out on this opportunity to invest in a prime location with excellent income potential. Contact us today for more information. BOOK YOUR VIEWING TODAY!!