Well Maintained Apartment Block in Rosettenville For Sale

Close to the centre of the Rosettenville Business District, this small face brick apartment block has been well looked after
Features: X 6 two bed units of 80m2, BICs, bathrooms, kitchens, lounges, face brick, tiled floors, security gates, fully walled & fenced, paveway With an annual income of R306 000, the yield equals 21.8 % at the asking price of R1 400 000. Rosettenville is a working class suburb of Johannesburg, South Africa. It lies to the south of the city centre.

Rosettenville was founded in 1886 by the Jewish pioneer, Leo (or Levin) Rosettenstein, whom it is named after. Rosettenstein arrived in South Africa from East Prussia and surveyed the land and sold stands after gold was discovered on the Witwatersrand. The area was subsequently developed by his son, A. V. (Ally) Rosettenstein. Some roads are named after his family members. The area began as a refuge for Johannesburg's elites looking to escape the chaos and noise of the newly minted mining town. By the 1920s the suburb had become home to a working-class population of English and Afrikaans speaking South Africans. For much of its history the area maintained a largely “white” demographic profile, as the Group Areas Act did not allow for legal racially mixed residential areas.

Between 1924 and 1972, over 50 000 white Portuguese-speaking immigrants moved to the Greater Rosettenville area, mostly from Portugal, but also from Madeira and Mozambique, which was then a Portuguese colony. After Angola and Mozambique gained independence from Portugal in 1975 and 1976, many White Angolans and more white Mozambicans moved to South Africa, and many of them settled in Rosettenville. The area became known as 'Little Portugal', with residents celebrating their shared heritage in a number of ways including food and festivals. 10 June, Portugal Day was also celebrated there.

Since the repeal of the Group Areas Act in 1991 and the end of apartheid, new migrants from Southern African Development Community countries (mostly non-white migrants from Angola and Mozambique) have settled in the area, while older residents have moved to the northern suburbs. Often this was to be closer to their adult children that had moved to more desirable areas of the city.