Property details

53

27

27

?

Beds

Baths

Garage

Parking

Rooms

Swimming Pool

Garden

Furnished

Restaurant

Pet Friendly

Alarm

Guest Rooms

Wheelchair

Wireless

Aircon

Spa

Elevator

Conference Facilities

Building size:
6,478 m²
Energy Supplies:
Eskom,
Rates and Taxes
R35,000 per month

Features

  • Main bedroom with curtain rails, built-in cupboards, queen bed and carpeted floors
  • Bedroom 2 with curtain rails, built-in cupboards, queen bed and carpeted floors
  • Bedroom 3 with curtain rails, built-in cupboards, queen bed and carpeted floors
  • Bathroom with basin, bath, shower, toilet and tiled floors
  • Entrance hall
  • Kitchen with tiled floors, melamine finishes and oven and hob
+  see more

CALLING INVESTORS: BLOCK OF FLATS AT A PRIME HUMEWOOD ADDRESS

This is an extremely rare opportunity for an investor looking for an immediate income stream and long-term capital growth. The entire block, is for sale, with the added bonus of existing tenants and a prime address in Cathcart Road, Humewood. In all, there are 27 flats, large and spacious with lovely views, new wiring and pre-paid electricity metres. The block has new DB boards and an upgraded powerhouse as well as a lift to the upper floors. The third floor contains 10 one bedroom flats of 87sqm. They have lovely parquet floors, open-plan living areas that open out to large east-facing balconies, full bathrooms and functional kitchens. Current rentals are R5 000 per month. On the second floor are nine 2 bedroom flats, 106sqm in extent and bringing in monthly rentals of up to R6 900. They also boast parquet flooring, full bathrooms and practical kitchens. Sliding doors from the open-plan living areas lead to spacious north-facing balconies with tranquil views over the suburb. The three bedroom units are on the first floor. There are 7 of them, ranging in size from 132sqm - 138 sqm, with generously proportioned rooms, parquet and carpeted flooring, full bathrooms and separate toilets. In extremely good condition with north-facing balconies, current rental income ranges from R6 500 to R7 800 per month. Last but not least is the 4 bedroom apartment (originally 3 bedrooms). It is 138sqm in extent and being rented out for R10 480 per month to 4 tenants. Behind the block is a large open tract of land used for parking (some of the bays are shade cloth covered). A recent study by the architect confirms that this plot is suitable for the construction of another block consisting of either 36 one bedroom apartments, or 24 two bed units. Stadium Heights is a well-built, secure block ideally positioned for students at the Nelson Mandela Metropolitan University in neighbouring Summerstrand, retirees or professionals wanting to invest in a good, convenient location. It's minutes away from the beach and the world-renowned Boardwalk Entertainment Centre and Casino with its wonderful restaurants, and a 10 minute drive to the Chief Dawid Stuurman International Airport. Public transport is literally on the doorstep and the city centre an easy commute. Good schools are in close proximity, too. Viewing is by appointment and with all required Covid-19 health measures in place.

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