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Unique, versatile investment opportunity on sale by the owner. Property is well maintained and is unique in the sense that it can be utilised as a residential property for a large family combined with the luxury of having 5 potential flats to be leased as an extra income, or, the property can be utilised as a commercial entity as a whole whereby the Main House as well the flats are leased and run as a business. Property consists of fully furbished Commercial & Residential entities. Rental Income: R42 850 p/m. Additional Income from optional Laundry services rendered to tenants: R1 500 p/m. Huge deductions of expenses/maintenance from Taxable Income: +> R150 000 per annum. Residential Entity: Fully Furbished Main House. 4 x Bedrooms. 1 x Study/Baby room/Bedroom. 1 x En suite Bathroom, Shower & Walk-In Closet. 1 x Bathroom & Shower. 1 x Lounge (include fireplace). 1 x Open Plan Kitchen & Dining Room. 1 x Bar Area. 1 x Jacuzzi Room. 1 x Scullery/Laundry. 1 x Outdoor Washing Facilities. 2 x Undercover Parking. 1 x Satellite Dish (2 x decoders & sim cards included). 1 x Domestic Apartment includes Bathroom & Shower (currently being used as Store/Ironing Room. Can easily be converted into Live-In Domestic Apartment, Laundry or extension to adjacent apartment). Commercial Entity: 5 x Fully Furbished Apartments (1 x 2 Bedroom, 3 x 1 Bedroom, 1 x Bachelor Pad). 2 x Satellite Dishes for DSTV connection to all apartments (decoders & sim cards included). 4 x Undercover Tenant Parking. 4 x Not Covered Tenant/Visitors parking. Communal area includes Braai/Lapa and Swimming Pool. The Commercial entity services niche market consisting of daily/medium/long term rentals by employees of established local businesses, Medical Doctor Interns, Young Professionals, Students and long stay tourists. The niche market shows occupancy rates of 97% vs 55% of typical Bed & Breakfast establishments in and around the greater Pietermaritzburg Area.Residential- and Commercial Entities are currently fully occupied. Residential Entity is currently leased by 4 Medical Interns on Medium term lease agreement. Rental Rates: R17 000 p/m (includes cleaning service twice a week). Apartments are currently fully occupied by young Professionals & Medical Interns on Long, Medium and Short term lease agreements. Rental Rates: Amethyst Suite (Bachelor Pad): R3 000 p/m. Blue Topaz Suite (1 x Bedroom Flat): R5 150 p/m. Garnet (1 x Bedroom Flat): R5 150 p/m. Pearl Suite (1 x Bedroom Flat): R5 150 p/m. Tourmaline Suite (2 x Bedroom Flat): R7 400 p/m. he property is situated in safe, scenic & sought after neighbourhood of Montrose. Walking distance from Cascades Shopping Centre, Restaurants and Virgin Active.Current owner is reluctant to sell but he has emigrated to Australia and therefore feels that it would be in his best interest to sell the property.
This house is for sale in Pietermaritzburg (KZN). This is a private property sale. The following description of this suburb will give you a better idea of Pietermaritzburg (KZN). Pietermaritzburg is the second largest city in Kwazulu Natal and the capital city of the province. Founded in 1838. Produces aluminium, timber and dairy.Continue reading...
This house is situated in a Residential Suburb
This double storey house floor area was not measured but the erf size was measured at 2080m2.
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Pietermaritzburg (KZN) , Howick , Woodlands - PMB , Scottsville PMB , Northdale (PMB) , Pelham , Chasedene , Town Hill , Hayfields , Sunnyside Park - PMB , Town Bush Valley , Ashburton , Bellevue , Intaba Ridge Game Estate , Panorama Gardens , Epworth , Newholme , Lincoln Meade
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