Block of 6 Apartments - 85 % Complete

OPENING BIDS TO BE ADJUSTED ONE DAY PRIOR TO AUCTION.

ONLINE AUCTION

Bidding Start Time: Wednesday 28 May 2025 @ 09:00

Bidding End Time: Thursday 29 May 2025 @ 14:30

Registration is essential by Monday 26 May 2025.

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

For more information, please contact the listing agent.

DESCRIPTION:

This prime property is a unique opportunity to reap the benefits, 85% complete. 

• Zoning GB1
• 5 x Two Bedrooms, one full bathroom, duplex apartments each ±72m²
• Apartments lead onto a terrace / garden area. 
• 1 x Two bedroom apartment ±95m²
• Apartment leads onto a spacious open balcony and built in braai area

Projected Possible Rental income:

• 5 x 2 Bedrooms - ±72m²  |  ±R11,500 per month – ±R14,500 per month
• 1 x 2 Bedroom - ±92m²  |  ±R15,000 per month - ±R16,500 per month

Projected Possible Rental income:

• ±R870,000 per annum – ±R1,050,000 per annum

• Ground and first floor apartments
• Open plan kitchen
• VAT entity
• Parking space for 3 cars, plus potential to add more parking outside the 5 units
• All structural work is completed, leaving minor finishing and installations
• Add your personal touch to the interior and design
• Offers immediate potential for income upon completion
• Expand your property portfolio and earn a high rental income or offer a great potential for resale
• Approved water meters
• 3 x Solar panels
• 3 x Geysers
• Electrical pulled through but not connected

DETAILS:

• Erf No:  60869, Cape Town
• Erf Size:  495m²
• Rates:  ±R2,700.00 per month
• Zoning:  General Business 1

Web Ref:  740475

VAT 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.

Ryan Hamburger |082 691 4915 | 021 425 8822 | [email protected]

Josh Raisun | 078 888 9534 | 021 425 8822 | [email protected]

CONTACT DETAILS:

Auctioneer: Claremart Group

Contact No: +27 21 425 8822

Email: [email protected]