Fully tenanted, residential property up for auction

Posted On Wednesday, 22 September 2010 02:00 Published by eProp Commercial Property News
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Auction Alliance will take a fully tenanted, in Florida, Johannesburg to the auction floor on October 20

Property-Housing-ResidentialThe property, situated on the corner of 6th Avenue and Cinderella Street, is surrounded by residential dwellings and consists of a triple storey building with 52 bachelor units and 12 one bedroom units.

The units are newly constructed and cater mostly for the lower to middle income groups. The average unit sizes range between 34m² and 45m² and offer a gross lettable area of 1193.33 m².

The property is fully enclosed with brick walling and has ample on-site covered parking.

The average monthly rental income of R163 600, when fully let, is excellent and there is a healthy demand for these units with a long waiting list in place.

Comments Gareth Botha of Auction Alliance, “The property offers excellent value, newly built, residential accommodation and is considered an ideal investment opportunity.”

The auction takes place on October 20 at 12pm at The Southern Sun Hotel, Grayston Drive, Sandton.

Last modified on Thursday, 12 June 2014 15:34

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