Commercial For Sale

Ref # Ent0209661 : Port Elizabeth Central , Port Elizabeth , Eastern Cape

R 5,500,000

Property Description

BRYNMOR FLATS - GORDON TERRACE, CENTRAL

GUARANTEED MONTHLY INCOME / WELL MAINTAINED SMALL BLOCK / RENOVATED SPACIOUS FLATS / SECURE OFF STREET PARKING / NOT SECTIONALISED / LANDLORD PERSONALLY INVOLVED / NO MANAGING AGENT

HARBOUR / VALLEY VIEWS

SOLID 4 FLOOR SECURE BUILDING CONSIST OF:

11 flats (between 82m2 and 102m2) 10x two bedrooms / 1x one bedroom / pre paid meters fitted

Large indoor space created by - generous bedrooms with built in cupboards / Large lounge / neat bathrooms / functional kitchens / enclosed patio can serve as 3rd bedroom

11 dedicated off street secured parking bays plus garage

Staff bathroom and store room

Neat low maintenance front garden

Commercial zoned

SECURITY FEATURES

Fully enclosed block with solid wall at back and electric perimeter fencing

Galvanised palisade fence in front with electrical perimeter fencing

Remote access gate to secured parking area

Parking area and back of building are well lit at night

RENOVATIONS COMPLETED

External windows replaced with aluminium frames

External plumbing replaced with PVC

9 units renovated

Original parquet flooring sanded and varnished

CURRENT RENTAL INCOME PER MONTH - (to be escalated at year end)

R56 200 per month - (unit 4 discounted at R3750 to one staff member)

EXPENDITURE PER MONTH

Municipal Rates - R6307.20

Municipal Services - R11 692.80

Insurance - R2 333

Accountant - R300

Wages - R1 500

Repairs and Maintenance - R2000

Bank Fees - R267

UIF - R15

Antenna rental on rooftop - R1918.73

STABLE TENANTS

Leases in place on month to month basis - provides greater flexibility to landlord

Some tenants since 2014

Very well maintained relationship between tenants and landlord.

The option to convert into student accommodation for higher income exists.

Committed Seller - please contact us for a guided viewing to secure this sound investment.

Property Features

  • Property Type Commercial
  • Building Size
  • Stand Size 956m²
  • Rates & Taxes ± 6307.2

Property Location