14 Bed Apartment in New Redruth

Multiple 14 dwelling Residential-realty investment opportunity. One of Alberton''s rare property investment gems is up for Sale.

Re-zoned Residential 3 for the multiple dwelling scheme, the property is located on a 1 280 square metre stand and comprises:-

Building 1: Comprising 11 studio-type bachelor units with a gated entrance door.

Building 2: Residential house of 2 X One-bedroomed units with shared common areas.

Building 3: A small annexe building as a 1 bed-roomed flatlet.

Garages 4: 3x double lock-up garages for vehicles or storage estimated at R 2 000 per month additional income per garage, not forming part of the current rent-roll

The rental income generation, due to all 14 dwellings being full, is averaging approximately R 35 000 pm excluding property-owner''s expenses, excluding R 6 000 rental potential for the garages.

Each of the 11 bachelor studio units is built of low-maintenance face-bricked interior walls and epoxy-screed floors, have a shower, WB and WC and kitchenette and a comfortable size bed and settee space. The main house has 2X queen size bedrooms with good cupboard space and separate bathrooms,with shower, for each, plus a kitchen and lounge and dining area as community areas.

The Annexe flatlet is a One-bedroomed unit with shower WB, WC & small kitchenette, with gated entrance

Basic gardens, with a small grassed play-area complement the 3 buildings on the property. Owner maintains this as well and subscribes to contract response security for the entire property.

Offers that are subject to a 7-10 day due diligence period, will be taken forward for acceptance.

Discreet viewings arranged by appointment as there will be no showdays. Your PGP investment specialist will be at your service.