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Property description
This Boksburg Central property, consisting of 4 shops (10k+ rent) and 10 flats (4 large), plus 3 rooms with private bathrooms. A parking area needs access and minor TLC could lead to increased rental income.
Here's a more detailed breakdown of the property:
Location:
Boksburg Central, a location with strong demand for retail and residential flats.
Property Features:
- 4 large shops, each paying 10k+ rent.
- 10 flats, 4 of which are very large.
- 3 rooms with their own toilets and showers, sharing a kitchen.
- Parking area at the back, requiring an access point.
Tenants:
- Two tenants have been in the property for over 10 years.
- Two tenants have been in the property for over 3 years.
- One tenant has been in the property for over 40 years.
Utilities:
Tenants pay for their own water and electricity, with electricity on sub-prepaid and water read and billed.
Management:
- Current owners are based in the North West and manage the property with a caretaker.
Investment Potential:
- The building needs minor TLC, which could lead to a significant increase in rental income.
- The current owners are selling due to other business interests.
Additional Notes:
- The area has strong demand for retail shops and residential flats.
- A hands-on manager could potentially "turn it around" and make an upside.
The property is located well and has strong demand. It was also revamped a few years ago and is in a decent condition.
There are sub meters for water and electricity, which is collected at around 80-85% of the usage.
Closest Educational Institutions
Boksburg High School Public - Secondary 0.131Km
Hoërskool Voortrekker Public - Secondary 0.491Km
Christian Brothers College Boksburg Private - Combined 0.608Km
Diakomeo Christian School Public - Middle1.648Km
Curro Academy Parkdene Private - Combined 1.671Km
Laerskool Goudrand Public - Primary 2.272Km
Laerskool Baanbreker Public - Primary 2.361Km
Lakeside Primary School Public - Primary 2.498Km
Excelsior Academic College Private - Combined 2.569Km
Boksburg Christian Academy Public - Combined 2.583Km
More information on the Breakdown is available.
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