Townhouse For Sale in Milnerton Central, Milnerton

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Asking Price : R 76 000 000 (4 510 385 EUR*)

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Province:Western Cape City:Milnerton Suburb:Milnerton Central Bedrooms:3 Bathrooms:2 Garages:1 Erf Size: ± 500 m2 Floor Size: ± 132m2 Rates:R 514 p/m

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MILNERTON PRIME RESIDENTIAL PROPERTY INVESTMENT 38 TOWNHOUSES

Prime Residential Property Investment portfolio comprising of 38 residential properties located in the Milnerton, Tygerhof area, 10km from the Cape Town CBD. These properties are all registered with separate Title Deeds for each erven and have no outstanding mortgages registered over them as security.
Average Erven size 500 m2
Property floor area 110 m2
Garage floor area 22 m2
Rates and taxes per property R514.00 per month
Rental - R12500 per month (new tenants)
Tenants pay additional CTCC services and electricity. The owner pays for external building maintenance,building insurance and CTCC rates and taxes.
The close corporation company has only one member
The Lease agreements run for a minimum of 1 year. If the Lease is not cancelled in the 10th month by Lessee or Lessor, the the Lease continues indefinitely with requires 2 month's notice to terminate from either party.
The Lease has an annual rental escalation clause of 12%
Each Property comprises the following accommodation:
Tiled Entrance
Three Bedrooms all with BIC'S
Main bedroom en-suite
Family Bathroom
Kitchen
Hallway
Lounge and Dining Room
Large Garage with storage space
Private walled patio and garden
Ample visitors parking