House for sale in La Rochelle

This commercial property is very well located in the heart of La Rochelle Johannesburg. With easy access to all amenities in its immediate vicinity this building is conveniently positioned making it sustainable in the long run. The property originally was a medical facility which was converted to residential with 1 retail unit. Currently the total number of units derived from the building are 27, with space available to add another 8 +/- on the first floor. Given its current price point and potential this property offers significant UPSIDE. The overall stand size of this asset is 1485 sqm, the existing structure is only built on 990 sqm meaning there is a standard size stand of 495 sqm which hasn't been developed as yet. The are also plans from council for a new taxi terminal just downstairs on the doorstep of this property. Property highlights include: - GLA 3560 m2 (Estimated) - 27 UNITS - Upside of an additional 5 – 8 flats can be constructed - 23 BASEMENT PARKING BAYS + BASEMENT STORAGE - CURRENT INCOME R 60.000.00 +/- actual collection, with current vacancy - VACANY 22 % CURRENTLY - ZONED MIXED USE - ADDITIONAL ADJOINING VACANT STAND - FOR SALE R3.2million only!! - HIGH YIELD ASSET - REFURBISHMENT OPPORTUNITY Contact Agent now for viewing!