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KwaMevana, Kwamevana, Howick, KwaZulu-Natal
R 2 500 000
This property consists of 20 brand new studio flats with a separate shower, toilet and hand basin in four blocks of five rooms with each having a solar powered geyser above and separate electricity meters for each unit.These units bring in R2000 per month and it also has a main house bringing in R2500 per month plus four single rooms bringing in R1000 each.The income potential is therefore20 X R20001 X R25003 X R1000Totaling R45 500 with costs being mainly shortfall of electricity not recovered and rates etc of approximately R5 500 thereby netting R40 000 per month.Plans for a further 20 rooms have been submitted to Umgeni and are awaiting approval. These will be a double story on the road side of the existing buildings.Note: Selling price excludes VAT. Show more Show less
Estimated monthly repayment
R 23 608
on a R 2 250 000 bond over 20 years at 11.25%
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KwaMevana, Kwamevana, Howick, KwaZulu-Natal
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Listed by
Palesa Mnguni
Unclaimed listing — claim it to verify
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