R 4 999 000 | 8 bed property for sale in kempenville

Situated in Kempenville (Oakdale) Bellville in Barnard str. Easy access to all amenities. Easy to get to Voortrekker Road, N1 to Cape Town. Within walking distance from Middestad Mall, Care Cross Bellville, Bellville Christian Academy, Bellville North Primary and lots of shops, creches and public transport. This well kept and very neat Own Title block of flats offers 8 x 1-bedroom apartments. One block of flats in front with 2 ground floors and 2 top floor 54m2 apartments and the same at the back block of apartments. All identical and consist of 1 spacious bedroom and living area, kitchen and bathroom with bath, toilet and basin. (The one in the photos was renovated after the last tenant moved to another unit in the complex). 6 of the units with own balconies. Some with tiles in the living areas and others with carpets. Courtyard in the middle of the 2 blocks with washing lines, an outside toilet with a wash bay. Parking bays in front of the complex with a security gate in front, CCTV Cameras operated by management. Perfect investment: 54m2 1-bedroom units with a rental income of R5500 each per month = Total Rental income R44 000 per month. Municipal Rates and Taxes on the building per month = R6500 Cleanbin (optional) R400 pm Insurance R2424 pm Garden Service and Electricity to operate outside lights and Cctv Camera = R2200 pm All expenses per month R11 524, Net income after expenses is paid of R32 000 pm. Prepaid Electricity and Prepaid water This is for the investor that is looking for a great return on investment for retirement.