Property details

Erf size:
0.24 ha

A unique and exciting investment opportunity in Kilimani

This property presents prospective buyers with a compelling turnaround opportunity through several value add and capital enhancement opportunities. Developed in the late 80s in an established residential area, the current existing buildings are ready for imminent growth as they present great refurbishment and/or redevelopment potential as either hostels, high density residential apartments or serviced apartments catering to professionals in the Upper Hill commercial hub and its surrounding area or patients' requiring long stay accommodation that is close to the nearby major hospitals. Property Summary - Entry to this property is by a long driveway - The land is freehold and covers an area of 0.6 acres - It is a favourable flat site - Property is on main sewer line - The property has an income stream in place generated from long term tenancies. - Consists of 48 units of which 37 are one-bedroom apartments and 11 are bedsitters. - Current occupancy is 100% - Current net income is between Ksh. 900,000 to Ksh. 1,000,000 but open to further efficiencies. - Currently has at least 20 parking bays. Location The property is located in Hurlingham area, which is about 3kms from the Central Business District. Hurlingham's location opens up a range of rental options with excellent public transport links. The locality is home to major hospitals, universities, embassies and corporate offices.

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