Established Commercial & Residential Property
About this business for saleEstablished Commercial & Residential Property
Situated on a busy street in the centre of town, this property investment opportunity comprises 2 buildings opposite each other.
They are mixed use properties, with 10 commercial tenants and 4 residential tenants.
All units are securely let, with some tenants having been in the building for over 15 years and they have become "landmarks". Escalations on leases range between 6% and 10% per annum.
The buildings are fairly well maintained, and there is no immediate upgrade requirement for the new landlord save for the usual property maintenance issues.
Yielding an average net monthly revenue of R112 600 the R O I will be around 10,4%.
Here is a passive income opportunity with the security of tenure and capital growth. With well established "payment-on-time" tenants, there is very little work required of the new landlord.
The asking price is exclusive VAT.