512m² Investment For Sale in Isipingo Rail
R3,490,000
Web Ref No CLS3233
Income generating opportunity residential/commecial
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 Commercial
Monthly Rates R6,100.00pm Excl. VAT
Floor Size 512m²
Land Size 1,026m²
Monthly Rates R6,100.00pm Excl. VAT
Floor Size 512m²
Land Size 1,026m²
Broker Contact Details
Gregory Shankland
Non-Principal Property Practitioner
Registered with PPRA
(FFC 202 332 832 9)
Cell 071 566 9690
Office (031) 9031234
WhatsApp Me
Non-Principal Property Practitioner
Registered with PPRA
(FFC 202 332 832 9)
Cell 071 566 9690
Office (031) 9031234
WhatsApp Me
Message the Agent
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