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R3,490,000

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Monthly Rates
R6,100 Excl. VAT

Income generating opportunity 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 residential to generate a monthly income.

The location on Gokul Road is close to the centre of the commercial strip along Phila Ndwandwe Road in Isipingo Rail.

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Features

0
0
Zoning:
Commercial
Exterior
Security
No
Sizes
Floor Size
512m²
Land Size
1,026m²
 
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Transfer Costs

Natural Persons Legal Persons
Transfer Fees
Deeds Office Levy
Transfer Duty
Postage and Petties:
Rates/Levy Clearance
Pro-Rata Rates/Levies
Deeds Office Search
Electronic Document Preparation
Vat @ 15%
TOTAL:
Please note: Most banks charge an administration and initiation fee.
Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.

Bond Costs

  Natural Persons
Fees
Deeds Office Levy
Postage and Petties
Bank Electronic Connection Fee
Electronic Document Preparation
Vat 15%
TOTAL:
GRAND TOTAL:

Income

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Expenses

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Joint Total Income
Joint Total Expenses
Joint Available Income
 

MONTHLY REPAYMENTS

 

LOAN AVAILABLE

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Monthly Payment

49,568.28

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