Excellent return on investment is what this is. Property with massive potential on the market.
If you're looking for an excellent return on your investment this property has your name written all over it. This fine piece of real estate currently generates a gross monthly rental income of R63 000. In its existence, because of its prime location and the fact that it is very well maintained, (in the past and currently) there have never been any difficulties with getting tenants of this property. The property is currently being used as a commune for students (as the University of Pretoria is just just less than 5 minutes away, T.U.T. and Unisa are also not so far from this property ) and young professionals as it is close to town (ideal for tenants who work in town as Arcadia is just next to town). Currently the property is a sectional title scheme with all the units being owned by the developer, meaning one of the alternative uses is selling off the 6 units on the property and living in the main house. The existence of the sectional title scheme, which is currently solely owned by the developer can mean a massive saving on transfer duties, what's more can be potentially lucrative for the new owner should the new owner decide to sell some of the schemes. This property in addition to the currently existing commercial opportunities (that are already in place) has tremendous potential for other uses as well, the property can be used as a motel or as an Air B&B, the latter method being the one that's potentially more lucrative as there are numerous embassies in a 1KM radius. Over and above that the property can possibly be rezoned and used as commercial property and lease agreements entered into. Being located on a very busy road this property also has potential to be a great office for a law firm or any other chosen business enterprise, the property can possibly be purchased with other adjacent properties and developed into a multi-resident accommodation (possibly three storeys high subject to council approval). There is a current trend with law firms, surgeries and many services orientated businesses choosing to operate near the Lisdogan/Arcadia area closest to this busy road this property is located in and for any sound businessman having his premises located on a road where there is an opportunity to get maximum exposure just makes sense. Property investors, developers and law firms that are keen on getting on their own office space should call today.
Full & free title
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