Great Returns – 8 Fully Tenanted Flats Plus 2 Tenanted Garages

Bidding opens at R4,100,000

ONLINE AUCTION

Bidding Start Time: Wednesday 24 April 2024 @ 09:00

Bidding End Time: Thursday 25 April 2024 @ 14:30

Registration is essential by Monday 22 April 2024.

Pre-Auction Offers may be considered. Auction Finance Available.

For more information, please contact the listing agent.

DESCRIPTION:

Calling all investors – Buy this already sectionalized 8 x 2 Bedroom Flats – TLC Required!

• No transfer duty payable (if sections are bought individually)
• 8 x Beds
• 2 x Bedroom Studios
• 5 x Studios
• Sections (2-9) Flat size from 43m², 56m²  & 58m²
• Sections 11 & 12 are 20m² each

Current Rental Income From 15 Flats is R46,650 per month or R523,800  per annum.

Expenses are R7,297 per month or  R87,564 per annum

Net Income= R436,235 per annum.

OPEN FOR OFFERS FROM R4.2 MIL EXCL. CLAREMART FEE.

DETAILS:

• Sectional scheme name: SS Pine Court
• Sectional scheme no: 134/1992
• Unit no (Extent):  2 (56m²) | 3 (43m²) | 4 (56m²) |  5 (58m²)  |  6 (58m²)  |  7 (56m²)  |  8 (43m²)  |  9 (56m²)  |  11 (20m²) (Garage)  |  12 (20m²) (Garage)
• Rates:  TBC
• Levies:  TBC
• Zoning:  General Residential 2

Web Ref:  709314

Transfer Duty Applicable

PAYMENT TERMS:

2.5% Deposit & 10% Auctioneers Fee (excl. VAT on fee), payable on the fall of the hammer by means of EFT only.  Balance payable on Transfer.

Sanjeev Boyjoonauth | 066 054 2211 | 021 425 8822 | [email protected]

CONTACT DETAILS:

Auctioneer: Claremart Group

Contact No: +27 21 425 8822

Email: [email protected]