350m² Apartment Block For Sale in Port Elizabeth Central
R2,400,000
178 Russel Road
Web Ref
ORC1910
Monthly Rates
R3,259.39
CALLING ALL INVESTORS: PRIME LOCATION STUDENT ACCOMMODATION
Student accommodation across from Russel Road College
Currently vacant and not being run at its full potential - new hands-on owner needed!
THE PROPERTY CONSISTS OF THE FOLLOWING:
FULLY FURNISHED
10 Rooms
2 communal bathrooms consisting of 2 showers & 2 toilets downstairs, 2 showers & 2 toilets upstairs
Projected Income/expenses on 20 Beds:
Monthly Rental Income: R80 000
Monthly Expenses: R28 755
Monthly Net Income: R51 245
Annual Net Income: R512 450
Cap Rate 21.35% (Return on investment on a cash purchase)
“The information provided is believed to be true and correct but does not form part of any agreement”
Currently vacant and not being run at its full potential - new hands-on owner needed!
THE PROPERTY CONSISTS OF THE FOLLOWING:
FULLY FURNISHED
10 Rooms
2 communal bathrooms consisting of 2 showers & 2 toilets downstairs, 2 showers & 2 toilets upstairs
Projected Income/expenses on 20 Beds:
Monthly Rental Income: R80 000
Monthly Expenses: R28 755
Monthly Net Income: R51 245
Annual Net Income: R512 450
Cap Rate 21.35% (Return on investment on a cash purchase)
“The information provided is believed to be true and correct but does not form part of any agreement”
Features
Zoning
Commercial
Exterior
Security
No
Sizes
Floor Size
350m²
Land Size
203m²
