Converted from an expansive house into a small block of apartments by one of Cape Towns' most creative architects, this property is a fantastic income generator for any property investor. Located in the very heart of Green Point, the property is within walking distance of all popular shops and restaurants
The gross rental income is above R 1.5m per annum, which leaves
an investor with a net return (after deduction of all fees and the property management cost) of approximately R 1 100 000.
The sectional title scheme consists of the 5 sections, that are currently utilized as 7 separate short-term rental units:
1 = 29 sqm
2 = 36 sqm
3 = 42 sqm + 7 sqm courtyard
4 = 41sqm + 7 sqm courtyard
5 = 81 sqm + 43 sqm balconies
Total space: 286 sqm
This is a rare opportunity, not to be missed!