Multi-Tenanted Converted House For Sale in Jeppestown

Positioned on two stands, this house has been converted into 6 units. Around the perimeter, another 14 rooms have been well constructed. In addition, there is a two-roomed cottage on the site

Features include: Originally 3 bedrooms, bathroom, entrance hall, separate dining room, lounge, fireplace, large kitchen, pantry, enclosed rear patio. Now there is: 6 units within the house, wrap around front verandah, wooden & tiled floors, pressed ceilings, security gates, burglar proofing, ornate stone front entrance, bay windows, front security gate, parking for 6 cars, driveway, paveway, two roomed cottage, 14 individual rooms around the perimeter of the property, 3 outside toilets, shower, iron roof and patio outside each unit. There are approved plans for all additions
Total net monthly rental income is R32 000 (each room R1800 per month, cottage R2000 per month, expenses R6000 per month) This relates to a yield of 28% at the asking price

JEPPESTOWN
Jeppestown was established in or after 1886 by C.E.G. Julius Jeppe, who formed the Ford and Jeppe Estate Company with his son, who was also called Julius Jeppe, and L.P. Ford. In 1893, the Masonic temple was completed. In 1894, Jeppestown was described as consisting of "421 buildings, two churches, a Masonic temple, St Mary's Collegiate for Girls and a library". In 1896, the suburb had 5,647 inhabitants. St Michael's School for Boys, which has since been renamed Jeppe High School for Boys, was established in 1890, and the piece of open land called Julius Jeppe Oval was converted to a park in approximately the same year. The eastern part of Jeppestown came to be known as Belgravia.