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R 3 490 000

Commercial Property for Sale in Isipingo Rail

Isipingo Rail, Isipingo

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512 m²

Contact Broker

Gregory Shankland

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Income generating opportunity mixed 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...

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Property Overview

Listing Number

113839251

Type of Property

Commercial Property

Listing Date

13 January 2024

Erf Size

1 026 m²

Floor Size

512 m²

Rates and Taxes

R 6 100

Points of Interest

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