8 Bedroom House For Sale in Secunda

Property description

Category: Multi-Dwelling Investment Property / Residential Income Property

INVESTMENT PROPERTY SUMMARY

Rental Units & Income

Main House
3 Bedrooms
2 Bathrooms
Spacious lounge
Kitchen
Carport for 2 vehicles
Current Rental Income: R8,000 p/m

Unit 2 – Two-Bedroom Flat
2 Bedrooms
1 Bathroom
Open-plan kitchen and lounge
Electricity via sub-meter
Current Rental Income: R6,900 p/m

Unit 3 – One-Bedroom Flat
1 Bedroom
1 Bathroom
Open-plan kitchen and lounge
Own electricity sub-meter
Rental Income: R7,990 p/m - Fully Furnished (not included in the purchase)

Units 4 & 5 – Two Bachelor Flats
Private kitchenette in each unit
Each unit has its own electricity sub-meter
Combined Rental Income: R6,800 p/m

Total Rental Income
R8,000 + R6,900 + R7,990 + R6,800 = R29,690 per month
Potential Annual Gross Rental Income: R356,280

Electricity & Metering
Owner currently purchases approximately R4,000 electricity per month through the main meter.
Units 1 & 2 share a sub-meter.
Unit 3: Own sub-meter.
Unit 4: Own sub-meter.
Unit 5: Own sub-meter.
Tenant electricity usage is collected through Citiq Prepaid and refunded to the owner monthly.
This means the approximately R4,000 electricity purchase should not simply be treated as a R4,000 monthly operating expense, as tenant electricity payments are recovered/refunded.

Water
Water is currently included in the tenants' rent.
Each lease contains a clause allowing the owner to install prepaid water meters for the individual units.
A new owner therefore has the option of installing prepaid water meters, which could reduce the property's monthly running costs and place water consumption directly with the tenants.


Maintenance to Be Completed by Current Owner

Unit 3
Bedroom access door to be replaced.
Geyser replacement has been approved by insurance and will be completed.

Unit 4
2 kitchen cupboard doors to be replaced.
Bathroom ceiling to be painted.
Black bedroom cupboard handles to be fitted — already purchased.

Main House
Bathroom area/ceiling to be painted.

Drainage pipes across most of the property have already been replaced.
A large exterior solar light has already been purchased and still needs to be installed.