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Located in the Roodepoort area of Polokwane, this plot presents an excellent investment opportunity. Despite requiring some tender loving care, the property has the potential to generate approximately R 46,000-00 in monthly rental income from the existing residential dwellings. With a modest investment of around R 100,000-00 for upgrades, the monthly income could be even higher.
In addition to the residential units, the plot features two warehouses totalling approximately 860 m², complete with lockable storerooms and solid concrete flooring. This setup is perfect for a buyer looking to work from home or relocate their business to a plot. The property also offers ample carport space with 20 parking spots.
This investment is particularly appealing, considering that all residential units can be rented out, resulting in a [hidden] return on investment. Adding to this, there is an extra 5% for the average capital growth in Polokwane, bringing the total return on investment to an impressive [hidden] This outperforms typical bank returns.
It's important to note that banks typically do not finance 100% of this property type, requiring a deposit ranging from 20% to 40%. However, the generated income is more than sufficient to cover the bond on the property, allowing for a profit. Moreover, by utilizing the warehouses and avoiding rent expenses, the financial outlook is further improved.
For those interested in pure investment purposes, renting out the warehouse space for approximately R 15,000-00 per month (based on a modest calculation of less than R20 per m²) can elevate the total return on investment to [hidden] annually, equivalent to R 61,000-00 per month. This underscores the tremendous potential and financial benefits associated with this property.
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No one sells more property than us, so make the smart choice now. Pre-qualified or cash buyers will be given preference. If this property does not suit your needs or taste, please give me a call so that we can discuss and find your dream home or next investment. Please also click on the logo to your right to see all properties available by us.
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