11% Net Return – Income Generating Building

Bidding opens at R1,800,000

ONLINE AUCTION

Bidding Start Time: Tuesday 28 May 2024 @ 09:00

Bidding End Time: Thursday 30 May 2024 @ 14:30

Registration is essential by Monday 27 May 2024.

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

For more information, please contact the listing agent.

DESCRIPTION:

Recently renovated, this income generating property yields a solid 11% net return with secured leases in place! This site also holds the perfect zoning for your redevelopment aspirations with the ability to add bulk. Currently consisting of 3 dwellings on a total erf size of 263m².

Located in Coronation Road within walking distance of business hubs, educational schools and surrounded by plenty of retail shops and food outlets to choose from, as well as religious places of worship. Within close proximity to transport route (N1, Voortrekker Road, M5) for all public transport.

2 X Residential Flatlets:

• 1 Bedroom each
• En-suite Bathroom (shower, toilet, basin)
• Kitchen (BIC, single sink)
• Lock up & Go
• Aluminium windows

Retail Property:

• Lounge currently set up as superette store
• 2 Bedrooms
• 1 Bathroom (shower, toilet, basin)

Additional Features:

• Secured parking for up to 4 vehicles
• Building plans available on request
• High footfall and exposure area for commercial and advertising purposes

TOTAL GROSS RENTAL PER ANNUM:  ±R240,000 (±R20,000 per month)

Pre-Auction offers Welcome.

Contact Sachin for more info or OTP.

DETAILS:

• Erf No:  146647, Cape Town
• Erf Size:  263m²
• Rates:  ±R1,500.00 per month
• Zoning:  General Residential 4

Web Ref:  609265

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.

Sachin Boyjoonauth | 068 259 2425 | 021 425 8822 | [email protected]

CONTACT DETAILS:

Auctioneer: Claremart Group

Contact No: +27 21 425 8822

Email: [email protected]