10 Bedroom House For Sale in Orchards - 11 The Avenue, JRL14113

Einzelheiten

10 Bedroom House For Sale in Orchards

A unique opportunity to earn a large rental income (realistically R54 000 per month) from this multi-unit property in the heart of Orchards.

There are 7 separate, rentable units on the property, plus the main house which has 3 bedrooms. The units consist of: • Three custom designed, modern, studio units each with upstairs loft and own bathroom and kitchenette, currently generating R22 900 combined. • A fourth, larger studio unit, generating R7 000. • Three custom-designed, compact, “budget” units, generating a combined R7 100. These 3 units share a bathroom and kitchen. • The main house could easily have the main bedroom altered to be a standalone rental unit earning R6 000, and the rest of the main house (with 2 bedrooms) could earn R11 000.

A good indicator of return on investment for rental properties is the “gross yield”. A good gross yield is 10% p.a. or more. At a list price of R5.4m, the gross yield is a very good 12% p.a.

A key financial benefit! Investing in multi-unit rentals in a sectional-title complex incurs costs of levies and rates on each unit. For this property there are no levies and only one COJ account! Major cost saving.

Other features: • Huge investment in solar energy—hardly requiring any draw from Eskom. • Most of the units have their own private patios. • Kitchen in the main house has all the mod cons: fully renovated, Smeg stove (gas + electric); Caesarstone-type tops, etc. • Main house has very spacious open-plan living areas (lounge, dining, kitchen), with laminate wood flooring throughout. • “Beach bar” outside relaxation area, with beach sand. • Parking inside the property for 6 cars. • Excellent location in the heart of Orchards • Good security—security gates, electric fence. • Owner is amenable to including most of the furniture in the deal