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R 1 150 000

Commercial Property for Sale in North End

North End, Port Elizabeth

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413 m²
- m²: 413 m²
- Hectares: 0.041 ha
- Acres: 0.102 acres

Contact Broker

Wesley Sherman

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Prime Investment Opportunity in Port Elizabeth

Versatile Block Featuring Vehicle Workshops and Residential Units

Explore this fully tenanted mixed-use block in Port Elizabeth, offering a vehicle service workshop, a motor vehicle spray-paint and body business, and 8 residential units. Managed by a reputable company, with three units directly overseen by the owner, this property ensures a seamless rental experience. Each residential unit is equipped with pre-paid electricity and water meters, along with geysers, providing convenience for tenants.

Key Highlights:Gross Return: Over 33% per annumNet Return: Approximately 24% per annumRecent Upgrades: R42,000 invested in roof re-rubberizing and minor paintingInvestment Resources: Detailed floor plans and rental schedules available on request

With a steady monthly rental income of around R32,000, and a net income of approximately R23,000 after municipal and management...

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Property Overview

Listing Number

114829452

Type of Property

Commercial Property

Listing Date

22 August 2024

Erf Size

413 m²

Points of Interest

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