Invest in 23 Unit Apartment Block with Plenty of Parking

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Project summary

Objective
I have property / land for sale
Short description

Ipsum is based in Cape Town, South Africa. We are looking for 2 investment partners to invest capital in a 23 Unit Apartment Block with Plenty of Parking. Partners will own a 1/3 share of this prime property and will earn a portion of the monthly rental income as well an annual return. A minimum investment of $175 000 is required from each partner.

Project details

The block of flats is located a mere 5 minutes walk from Parow station and 5 minutes walk from the bus and taxi route, along De La Rey Road and close to Builder Warehouse
It is 10 minutes walk from the Parow business hub, Parow Shopping Mall and in close proximity to the Beaconvale industrial areas, about 10 minutes drive to Tygerberg Hospital and all other facilities.

CURRENT POSITION
The property currently generates $5388 per month in rental income. This is expected to increase to $6590 within six months. Partners will immediately earn a 3rd portion of the monthly rental income.

The property comprises 23 non-sectional title units:
8 x 2 Bedroom units [50sqm]
9 x 1 Bedroom units [50sqm]
6 x Bachelor units [45sqm]
Each apartment has one kitchen, bathroom/ toilet and bedroom/s
4 Garages, 10 under-cover parking bays, plenty open bays.

PARTNERS REQUIRED:
We are looking for partners that interested in purchasing and owning shares in the Share Block Company with full ownership of this Apartment block.
At this stage, we are looking for only 2 Investment Partners who will own a 1/3 share of this prime property and will earn a portion of the monthly rental income as well an annual return. A minimum investment of $175 000 is required from each partner.
For the first 2 years of the partnership, building upgrade work will be completed.
A Sectional Title register will opened over the property. Once Sectional Title scheme is approved a process of marketing and selling the units as sectional title units will be kick-started.
Under this scheme, each partner can look forward to an estimated 150% plus ROI, repayment of full initial investment plus profits from the proceeds of the sale. We expect this to be even higher, as this is prime real estate.
We are looking for partners to purchase and own shares in a Share Block Company with full ownership of this Apartment block.

Key facts about this project

Location of property
Cape Town (Western Cape)
Type of property
Commercial and entertainment buildings and structures and Flat or apartment
Cost of property or land for sale
$ 175,000 - $ 185,000
Company owner or broker
Broker

What I am looking for in an ideal partner

Can provide trade references
Preferable

About the company

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Ipsum

Ipsum is based in Cape Town, South Africa. We are a business services company and operate in South Africa in the Media and entertainment, IT services, and Business consulting sector...

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