Blocks are valuable as they are tenanted, central and close to public transport
Brooklyn, Rugby, Goodwood and Table View are sought-after areas for the rental market because of their centrality and proximity to public transport, says Sanjeev Boyjoonauth, ClareMart senior auction agent.
Four apartment buildings in these areas will go under the hammer at ClareMart’s next multiple auction on April 24.
The first block, on a corner site at 225 Koeberg and 1 Poole Road, Brooklyn, is set on a 984m² erf, and is on a busy bus and taxi route.
Betanie Court has 13 tenanted apartments and three tenanted shops.
It also has one garage and three off-street parking bays.
The property offers visibility on busy Koeberg Road, with the retail outlets benefiting from extensive pedestrian traffic, Boyjoonauth says.
“It is a secure and well-managed block, with minimal maintenance requirements, and yields R1.07million a year in rental income, with potential to increase.”
Cecilia Court at 17 Santos Street, Rugby, has eight tenanted apartments, with eight garages.
This, too, is a secure and well-run block. Set on an erf of 864m², it yields R524760 a year, with potential to increase the rent income substantially.
Ardette Court at 23 Alice Street, Goodwood, comprises six tenanted apartments in a secure block and raises about R398000 in rental income a year.
Boyjoonauth believes the annual rental income could be increased by 20%. The erf spans 495m².
In Table View, Grasso Court is on a 1316m² erf, and is on a busy public transport route.
The block comprises six duplexes: four two-bedroom units, and two three-bedroom, two-bathroom units. Each unit has its own backyard, and a lock-up garage.
Next door is a vacant site, which Boyjoonauth suggests would be ideal for the expansion of the existing complex.
The properties can be viewed by appointment with the auction consultant and will be auctioned at the Hellenic Community Centre, 24 Bay Road, Mouille Point, at 12.30pm on April 24.
A 5% deposit and auctioneer’s commission of 10% excluding VAT will be payable on the fall of the hammer.
The balance will be payable on registration of transfer.
For more details, email Sanjeev Boyjoonauth on firstname.lastname@example.org, call 021 425 8822 or 071 223 9552 or see www.claremart.co.za.