R1,150,000
Prime Investment Opportunity in Port Elizabeth
Versatile Block Featuring Vehicle Workshops and Residential Units
Explore this fully tenanted mixed-use block in Port Elizabeth, offering a vehicle service workshop, a motor vehicle spray-paint and body business, and 8 residential units. Managed by a reputable company, with three units directly overseen by the owner, this property ensures a seamless rental experience. Each residential unit is equipped with pre-paid electricity and water meters, along with geysers, providing convenience for tenants.
Key Highlights:Gross Return: Over 33% per annumNet Return: Approximately 24% per annumRecent Upgrades: R42,000 invested in roof re-rubberizing and minor paintingInvestment Resources: Detailed floor plans and rental schedules available on request
With a steady monthly rental income of around R32,000, and a net income of approximately R23,000 after municipal and management fees, this property is an excellent investment opportunity.
For inquiries or to schedule a viewing, contact us today!
Features
Exterior
Sizes
Extras
Near Shopping Mall • High Traffic • Near Highway • Near Public Transportation
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