Two Stellenbosch apartments positioned well to generate a high monthly rental income will be auctioned via silent tender.
This two bedroom, one bathroom apartment in Boschen Park has underground parking and a remote-controlled gate. It will be auctioned on 8 March at 12h00 with a guided price of R1.65 million - click here to view.“Stellenbosch is situated about 50km from Cape Town, and is less than an hour’s drive away. The town has a rich in history as reflected in the Victorian and Cape Dutch architecture,” says Tanya Jovanovski, franchisee of Rawson Auctions Western Cape.
“Tourists and locals can enjoy walking around the town and visiting historic monuments, museums and galleries, or enjoy dining at cafés, cosmopolitan restaurants, and experience the Stellenbosch wine route with a variety of wine estates to visit.”
She says there is plenty on offer for nature lovers too, such as hiking trails at the Jonkershoek nature reserve.
Jovanovski says the first apartment is a two bedroom third-floor, open-plan apartment in Cloetesville. It spans 46sqm and has one bathroom, an open lounge and a kitchen with an oven, a hob, and built-in cupboards. The apartment is tiled throughout and is accessible through a remote-controlled gate.
“It has the potential to bring in R4 300 a month, and is currently rented from the 1st of February 2017 to the 31st of January 2018. There is a 10% escalation clause in place, and exiting the apartment requires two months’ notice,” says Jovanovski.
“The guided price for this property is R300 000, however, all offers will be reviewed.”
Jovanovski says the second apartment, situated in the sought-after Boschen Park, is a wonderful investment opportunity.
“It is ideally situated close to the local university and popular nightlife spots. It has two bedrooms, two bathrooms, lounge, kitchen with an oven, a hob, built-in cupboards, and stunning finishes,” she says.
This two bedroom, one bathroom apartment in Cloetesville has open-plan living areas and will be actioned on 8 March 2017 at 12h00 with a guided price of R300 000 - click here to view.“Like the first property, this apartment is tiled throughout and is accessible through a remote controlled gate.”
This property comes with one underground parking and an extra bay that can be rented out for R190 per month.
“However, unlike the first flat, this apartment is capable of bringing in a monthly rental of R11 000, with its current lease running until the end of November 2017. It too has an exit clause of two months and an escalation clause of 10% per annum,” says Jovanovski.
“The guided price for this property is R1.65 million, however, all offers will be reviewed. Rates and taxes are a minimal R1 311.76 per month, which includes levies.”
Jovanovski says both auctions will be silent by tender, comprising written offers in a sealed envelope, with tenders closing on 8 March 2017, at 12h00. For both properties the seller is not registered for VAT, and as such, a transfer duty will be payable.
In following with the terms of Rawson Auctions, Jovanovski says there is no registration fee to bid. However, 5% deposit of the purchase price as deposit, as well as 10% commission plus VAT over and above the purchase price is to be paid to Rawson Auctions by the buyer on acceptance of seller.
Bidders are required to be registered and must have certified copies of their identity documents and proof of residence with them.
For more information on the R300 000 apartment, click here.
For more information on the R1.65 million apartment, click here.
Print
