R3,490,000
R3,490,000
Gregory Shankland
Monthly Rates
R6,100
Total
R6,100
Income generating opportunity mixed residential/commecial
Web Ref.
CLS3233
This property was originally a factory space with a retail section at the front, facing the street. This downstairs section is 512 sq m with a floor to ceiling height of approximately six meters, with columns on a regular grid. This ground floor area has been converted into 7 residential spaces of 3 rooms each, fetching R29 600 in rental income. Each unit has prepaid utilities.
On the first floor, the owner has built 4 x 3 room flats, each fetching R3900 / month for a total of R 15 400. They cover half the roof area and the owner planned to build another 4 units of the same layout - with the potential of another R15 400 rental income.
The total current rental is R45 000. Rates are R6 100. Each unit has it's own prepaid meters.
For a commercial option, the ground floor could easily be converted back to a factory space of 500 sq m, leaving the top floor as residential to generate a monthly income.
The location on Gokul Road is close to the centre of the commercial strip along Phila Ndwandwe Road in Isipingo Rail.
Call to view.
On the first floor, the owner has built 4 x 3 room flats, each fetching R3900 / month for a total of R 15 400. They cover half the roof area and the owner planned to build another 4 units of the same layout - with the potential of another R15 400 rental income.
The total current rental is R45 000. Rates are R6 100. Each unit has it's own prepaid meters.
For a commercial option, the ground floor could easily be converted back to a factory space of 500 sq m, leaving the top floor as residential to generate a monthly income.
The location on Gokul Road is close to the centre of the commercial strip along Phila Ndwandwe Road in Isipingo Rail.
Call to view.
Features
Zoning
Sizes
Isipingo Rail, Isipingo
- Street map
- Street view
Total Amount Repayable
R0,00
Monthly Repayment
R0,00
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