Great Investment Opportunity - Tenanted 8 Out Of 10 Flats Of Pine Court - Block Of Flats

OPENING BIDS TO BE ADJUSTED ONE DAY PRIOR TO AUCTION.

ONLINE AUCTION

Bidding Start Time: Wednesday 27 November 2024 @ 09:00

Bidding End Time: Thursday 28 November 2024 @ 14:30

Registration is essential by Monday 25 November 2024.

Pre-Auction Offers may be considered.  Auction Finance Available.

For more information, please contact the listing agent.

DESCRIPTION:

Calling all investors - buy this already sectionalised 8 X 2 beds flats - TLC required.

No Transfer duty payable - If sections are bought individually.

• 1 x 2 Bedrooms
• 6 x 1 Beds plus
• 2 x Bachelors
• 2 Garages converted into studios.
• Sections (2-9) flats sizes from 43m², 56m² & 58m² plus sections 11 & 12 are 20m² each.
• Current rental income from 11 flats is R46,650 per month or R523,800  per annum
• Expenses are  R7,297 per month or R87,564 per annum - Net income = R436,235 per annum

Open for offers from R 3.750 mil Excl Claremart fee.

DETAILS:

• Sectional scheme name: SS Pine Court
• Sectional scheme no: 134/1992
• Unit no (Extent):  2 (56m²), 3 (43m²), 4 (56m²), 5 (58m²), 6 (58m²), 7 (56m²), 8 (43m²), 9 (56m²), 11 (20m²) & 12 (20m²)
• Rates:  TBC
• Levies:  TBC

Web Ref:  709314

Transfer Duty Applicable

Payment Terms:

2.5% Deposit & 10% Auctioneers Fee (excl. VAT on fee), payable on the fall of the hammer by means of EFT only.  Balance payable on Transfer.

Sanjeev Boyjoonauth | 066 054 2211 | 021 425 8822 | sanjeev@claremart.com

CONTACT DETAILS:

Auctioneer: Claremart Group

Contact No: +27 21 425 8822

Email: info@claremart.co.za