Elsies River - MR127349

Sectional Title in Elsies River, Capetown - Northern Suburbs, Western Cape

R 20,000,000

... Numbers not adding up?

Private Property

Highest Pending Offer is R 17,000,000

3452m2
1246m2
Elsies River - MR127349
Sectional Title in Elsies River, Capetown - Northern Suburbs, Western Cape
R 20,000,000
Sectional Title For Sale in Elsies River - Home Sell - MR127349
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Front View
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Front View of property in Elsies River
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Rooms - 1930 square meters of property in Elsies River
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Rooms - 1930 square meters of property in Elsies River
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Rooms - 1930 square meters of property in Elsies River
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Rooms - 1930 square meters of property in Elsies River
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Bathroom 1 - 86 square meters of property in Elsies River
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Kitchen - 10 square meters of property in Elsies River
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Rooms - 1930 square meters of property in Elsies River
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Rooms - 1930 square meters of property in Elsies River
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Spaces - 1664 square meters of property in Elsies River

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Rooms
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Kitchen
Lounges
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Bathroom 1
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Spaces
Bathroom 1
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Backyard
3452m2
1246m2
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Key Features

Rooms

  • Office
  • 10 Living Rooms
  • Staff Room
  • Gym

Services

  • Rates and Taxes R5000

Kitchen

  • Kitchen
  • Counter Tops Natural Stone

Security

  • Burglar Bars

Exterior Cladding

  • Face Brick
  • Plastered

Roof

  • Zinc

Lot Features

  • Fenced

More Features

  • Property Type - Sectional Title
  • Seller Type - Private Property
  • Floor Area - 3452m2
  • Erf Size - 1246m2
  • Price per square floor meter - R5,794 per m2
  • Price per square erf meter - R16,051 per m2

MyRoof Stats

  • 2472 Views
PID=127349 DID=117606 SID=1
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Comments & Notes

REDEVELOPMENT OPPORTUNITY – STUDENT ACCOMMODATION!!!

MIXED-USE BUILDING

All tenants out in order to complete renovations!

Ideal for conversion to student accommodation; distribution centre; call-centre; mini-mall; community centre; etc, etc.

The first floor and mezzanine (1633m2) used to house a gym and it is proposed that this area be converted to 109 bedrooms, which should generate R218000/m to R327000 (with male and female bathrooms and a communal kitchen). Existing 14 flats on top floor were let pre-renovation for R80000. 7 retail shops were let at R100000 pre opening up to one single retail space (1000m2). Total projected income is R507000/m. Not taken into account: conversion to China-mall concept could add another R150000/m to the rental income.

Rental of R507000/m gross reflects a value of R50,7mil at 12% yield.

Selling at 40% yield gross; 35% nett.

Four storeys double volume with erf size 1246 m2, floor area 3452m2, and GLA of 3280m2 of retail and residential (top floor, 14 flats). Sectional title register (PARKFAIR) has been opened so you could sell off the flats for R6 million.

All sections have pre-paid water and electricity meters. Recently renovated, rewired, replumbed, etc, etc.

Private sale. VAT applies. Contact me for rentals, SG diagrams, sketch plans for additional 109 flats, etc.

Click here for the Owner Contact Details

Notes about this property by MyRoof

This sectional title is for sale in Elsies River. This is a private property sale. The following description of this suburb will give you a better idea of Elsies River. Elsies River is a suburb of Cape Town. The firs railway station was built in 1905 and today there are 3 within the municipal area Elsies river, Goodwood, Vasco

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This 4 storeys' sectional title floor area was measured at 3452m2 and erf size was measured at 1246m2.
This sectional title has monthly rates or ground taxes payable to the amount of R 5,000.

If you make an online offer using the Make An Offer button MyRoof will let you know if your offer was successful. To make an offer takes less than a minute. By selling privately the owner can reduce his asking price by as much as 7% (agents commission is up to 7%) and still get the same money in his pocket! That is why buying private property makes so much sense. Feel free to contact us for more information.

Do you want to sell property in Elsies River? Via MyRoof, you can sell house in a few easy steps, with professional help, every step of the Sell My House way. We've achieved 8 private property sales in Elsies River. Because of our superior offering, there is a high demand from people to sell property in Elsies River. To market your house online for free, click on the "Sell My Property" tab at the top of the page or the "Sell House" button on the right of this page.

Neighbouring Areas

Avondale , Brooklyn - Ct , Churchill Estate , De Tijger , Fairfield Estate , Glenlily , Goodwood Estate , Kensington - CPT , Maitland , Maitland Garden Village , N1 City , Ndabeni , Oostersee , Parow Central , Parow East , Parow North , Richmond Estate , Townsend Estate , Tygerdal , Vasco Estate , Wingfield , Ysterplaat , Acacia Park , Goodwood , Clarkes , Parrow Valley , Ravensmead , Elsies River , Cravenby

Areas in this Region

Bothasig , Century City , De Duin , Edgemead , Kaapzicht , Kleinbosch , Monte Vista , North Camp Wingfield , Northgate , Panorama , Plattekloof , Plattekloof Glen , Richmond - CPT , Sanddrift , Sonnendal , Summer Greens , Welgelegen , Door de Kraal , Hoheizen , Loevenstein , Maastrecht , Oude Westhof , Proteavallei , Welgedacht Estates , Welgemoed , Amanda Glen , Aurora , Bethanie , Chantecler , De Bron , Die Wingerd , Durbanville , Durbanville Hills , Durbell , Durmonte , Everglen , Eversdal , Eversdal Heights , Goedemoed , Kenridge , Kenridge Heights , Klein Nederburg , Langeberg Village , Morning Star , Proteaville , Schoongezicht , Sonstraal , The Crest , Valmary Park , Vergesig , Vierlanden , Vygeboom , Wellway Park , Wellway Park East , Durbanvale Country Estates , Belgravia , Bellair - CPT , Bellville , Bellville South , Beroma , Bloemhof - Ct , Blommendal , Blomtuin , Bosbell , Boston , Chrismar , Thalmen , Eastrock , Glen Ive , Glenhaven , Grahamdale , Groenvallei , Heemstede Estate , Hillrise , Kempenville , Kenever , Kingston , La Rochelle - CPT , Labiance , Laurindale , Loumar , Louwville , Maniesoord , Marinda Heights , Meyerhof , O Kennedyville , Oak Glen , Oakdale , Ridgeworth , Rosendal , Shirley Park , Stellenridge , Stellenberg , Stellenryk , Surrey , Vosfontein , Vredelust , Belrail , Triangle Farm , Sanlamhof , Belhar , Amandalsig , Amandelrug , Arauna , Belmont Park , Bernadino Heights , Bloekombos , Bonnie Brook , Bosonia , Bracken Heights , Brackenfell , Brackenfell South , Brantwood , De Kuilen , De Tuin , Drosdy Park , Eikendal , Ferndale - CPT , Hoogstede , Jagershof , Joostenberg , Klein Begin , Klipdam , Kraaifontein , Kuils River , Langeberg Glen , Langeberg Ridge , Mabille Park , Marlborough Park , Morgenster , Northpine , Okavango Park , Peerless Park East , Peerless Park North , Peerless Park West , Protea Hoogte , Rouxville - CPT , Ruwari , Scottsdene , Scottsville , Silveroaks , Soneike , Springbok Park , St Duma , St Kilda , Summerville , Uitzicht , Vredekloof , Vredekloof Heights , Wallacedene , Windsor Park - CPT , Windsor Park Estate , Zoo Park , Eden Park , Protea Village , Rustdal , Camelot , Fisantekraal , Silversands


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