This property comprises of a house that has been converted into 1 x bachelor flat, 1 x 2 bedroom unit and 1 x 3 bedroom unit. The house is situated on a stand of which the size is 1047m². The monthly income for these 3 units are R10830.00. The bachelor flat is approx. 25m² in size. The 2 bedroom flat is approx. 48m² size and the 3 bedroom flat is approx. 75m² in size. The 2 bedroom flat offers 2 x bedrooms of which both have sliding doors to the garden, a kitchen and a bathroom. The Bachelor is just an open plan living space/ kitchen / bedroom unit. The 3 bedroom unit has 2 large bedrooms and 1 smaller bedroom, with an open plan kitchen / living area. It offers 1 x bathroom. The property is well maintained and is fully let out. Services offered to tenants renting the units are washing = 1 / week, cleaning units = 1 / week, water and lights included. The buyer need not to continue with this service in the next year providing that no new rental contracts were signed for 2016 at the time of buying. The 3 bedroom unit has an alarm installed. There is ample parking and space for even more parking as well as the possibility of adding more flats to the premises. The combined income and expense of the 3 units on the stand are as follows:
Rental income: R10830.00 (escalating by 10% next year)
Expense: R2820.00 which is set out as follows: Municipal Rates and Taxes: R940.00, Water: R230.00, Electricity: R1650.00 = R2820.00
Estimated income: R8010.00. Contact me should you wish to view the property.