Situated in florida, this apartment block is an excellent opportunity for the wise and discerning investor. Having an income of R83 000 per month this is an opprtunity not to be missed.
This is a three storey building in Florida. The building is used as a multi tenanted accomodation, housing low income tenants. The building is old and in much need of renovation and TLC. Presently it is not fully let due to the fact that the empty units needs to be renovated. The building is made up of 19 apartments. On the ground floor it has 3 two bedroom apartments with a shop and 5 individual rooms. The total income on the ground floor is R25 700.
On the first floor there is 3 two bedroom apartments, 1 batchelor, and 1 three bedroom unit as well as 3 two bedroom apartments. Total income is R26 700.
The second floor which is the top floor, has 3 two bedroom units, 1 three bedroom and 1 batchelor unit. Total income on the top floor is R31 200.
Total income for the building is R83 600
Expenses rates and taxes and water R24 000. electricity is pre paid.
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