R 21 500 000 | Commercial Property for Sale in Pretoria Central

49 x Apartment Residential Building

LOCATION: In Tshwane Gateway Precinct.
Major upgrading and improvement with Municipal and Government Infrastructure Development.
- Dept of Agriculture and Deeds Office Building right next to this building
- Unisa Study Support Centre 500m from this property
- Growthpoint Tshwane Gateway Development right opposite this building
- Gautrain Development 750m from this building

- Possible Social Housing or Student Accommodation application.
- Upgrade and offer building for Department of Agriculture Employees
- Ideal for Air BNB

NSFAS Grant for 2024: R50 000.00 per annum per student.
This building can sleep 203 students with subdivision.

BUILDING MIX AND CONFIGURATION:
- 7 levels
- Parking underneath building with ample open parking and carports
- Green belt for additional development opportunity
- 1 x Schindler Lift

Small bachelors: 39m2 x 7
Large bachelors: 45m2 x 7
1.5 bedrooms: 68m2 x 14
2 bedrooms: 78m2 x 21

Total GLA: 3 178m2

- 49 Flats in Total
- 14 X 1.5 Bedrooms (R 5500 - R 5700 rent p/m per Flat)
- 21 X 2 Bedrooms (R 6400 rent p/m per Flat)
- 14 X Bachelor units (R 4100 rent p/m per Flat)

INCOME: R268 800 PER MONTH
EXPENSES: R92 000 PER MONTH
NET INCOME: R177 000.00 per month
annual net income: r2 124 000
net yield: 10.6%


location
2.8km to UNISA MAIN CAMPUS
2.1km to UNISA SUNNUSIDE CAMPUS
2.2km to TUT MAIN CAMPUS
960m to TUT ARCADIA CAMPUS
1.4km to TVET MAIN CAMPUS

*** Current Rent includes water
*** Tenants pay own electricity with prepaid meters

- 40 X Parking bays rented out @ R 300 per parking extra p/m

- Tshwane Pre-paid Electricity meters

CURRENT COT EXPENSES:
- Waste R 15 000 p/m
- Electricity R 6 630.00 p/m
- Water R 16 332 p/m
- Sanitation R 9 603 p/m
- Common Area Electricity R6 000.00 p/m

OTHER EXPENSES
- Schindler lift service: R8 053.00p/m
- Building Insurance: R8 215.42 p/m
- Owner managed
- 1 x Caretaker; 2 x Cleaner/Maintenance Personnel (10 yr + service loyalty)
(R22 000 total payroll)
- Roof regularly waterproofed and resurfaced
- Parking area and both drive ways recently tarred
- Renovated kitchens and bathrooms
- Lift Cables Replaced

The Building is completely safe with CCTV cameras, Double Security gates and Electric fencing.

Under new management.