Brokerage | Multi-let Opportunity

Franciska Str Observatory 5

Franciska Str, Observatory

• 1700 SQM property with 4-bedroom main dwelling and double story cottage with capacity for 12 additional rooms for multi-let.
• Double Story cottage requires the rooms to be constructed and renovations are required in the main dwelling. A Formal quote of R599 272 and floorplans for the rental rooms are available upon request.
• Cottage has a slab with the potential for an additional 6 rooms to be built.
• Property has business rights.
• Excellent location with easy access to major amenities and major transport routes.
• It is so close to O.R Tambo International Airport, East gate Shopping Centre and JHB CBD

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Multi-let Opportunity

Asking Price R2 199 000
Negotiated Price R1 850 000
Capital Costs R2 748 884

• 16 Bedrooms rented at R 2500
• Rental Income R 40 000
• Bond Repayment R 14 343 (@prime 7%)
• Operating cost R7 821
• (Water, rates, management fee, maintenance
fee insurance & miscellaneous)
• Monthly Expenses R 22 168
• Net Cash Flow R 17 806
• Annual Cash Flow R 213 672 Capital costs
include Incl. transfer, bond, refurb, and sourcing
fee