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R 8 000 000

Commercial Property for Sale in Mowbray

1-10 Derodor 4 Kildonan Road, Mowbray, Cape Town

589 m²
- m²: 589 m²
- Hectares: 0.059 ha
- Acres: 0.146 acres

Contact Broker

Shameer Isaacs

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Primely Located Block of Flats on Offer!

Accepting offers.

Description:

TURNKEY STUDENT ACCOMMODATION INVESTMENT!

Building consists of, 6 Apartments:

• 4 x Three Bedroom apartments +- 62m²

• 2 x Two Bedroom apartments +-44m²

• 1 Garage and 4 parking bays.

Building is sensationalized.

Fully occupied rented per room. 16 rooms all together at R 4250 per room as of January 2024.

Total gross income- R 68 000 per month.

Total Expenses: R 8209

+- 10% RETURN. Excellent ROI for this area. The rentals are well below market price.

ZONING: GR4

ERF Extent: 589 m²

Tenant mix

The tenants are local and up-country students predominantly at UCT. The property is very close to the Jammie shuttle.

Upside and opportunity.

Accepting offers.

Description:

TURNKEY STUDENT ACCOMMODATION INVESTMENT!

Building consists of, 6 Apartments:

• 4 x Three Bedroom apartments +- 62m²

• 2 x Two Bedroom apartments +-44m²

• 1 Garage and 4 parking bays.

Building is sensationalized.

Fully occupied rented per room. 16 rooms all together at R 4250 per room as of January 2024.

Total gross income- R 68 000 per month.

Total Expenses: R 8209

+- 10% RETURN. Excellent ROI for this area. The rentals are well below market price.

ZONING: GR4

ERF Extent: 589 m²

Tenant mix

The tenants are local and up-country students predominantly at UCT. The property is very close to the Jammie shuttle.

Upside and opportunity.

As it stands, the property is showing an 11% return which is very good for the area. The property is turnkey and easy to run. The rentals are substantially lower than market value. Market value rental for an un-renovated room is +- R 5500 pm. Market value for a renovated rooms are +- R 7500 per month. So, you have options of keeping as is and increasing the rental alternatively renovate and maximize the income exponentially. Opportunity to extend the garage and add a further 3 studio apartments.

Don't let this opportunity go by. Give me a call for an exclusive viewing.

Details:

• Sectional Scheme Name: SS Derodor

• Sectional Scheme No: 351/1997 | 744/2007 | 181/2013

• Unit No (Extent): 1 (62m²) | 2 (62m²) | 3 (61m²) | 4 (61m²) | 5 (17m²) (Garage) | 6 (17m²) (Garage) | 7 (17m²) (Garage) | 8 (17m²) (Garage) | 9 (44m²) | 10 (42m²)

The Claremart Group is a leader in commercial and residential properties. We attract huge crowds to our auctions and consistently match and exceed the mandated price on properties sold under our hammer.

Listing number: P24-113580007, Image number: 1

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Listing number: P24-113580007, Image number: 9

Property Overview

Listing Number

113580007

Type of Property

Commercial Property

Street Address

1-10 Derodor 4 Kildonan Road, Mowbray

Listing Date

06 November 2023

Erf Size

589 m²

Points of Interest

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