37 Bedroom Apartment / flat for sale in Athlone

PRIME RESIDENTIAL INVESTMENT OPPORTUNITY An exceptional opportunity to acquire a high-performing residential development offering immediate rental income, strong occupancy, and substantial future upside. This well-maintained development currently consists of a completed apartment block with 25 residential units, of which 24 units are tenanted, generating an impressive monthly rental income of approximately R200 000. In addition to the completed section, the property includes a second residential block comprising 12 studio apartments, currently 80% complete. Only minor finishes remain, presenting investors with a unique value add opportunity to significantly increase rental income and overall asset value upon completion. Developments of this nature combining stable cash flow with expansion potential are seldom available in today’s market. Key Investment Features: Completed block with strong existing tenancy Approximate gross monthly rental income of R200 000 Additional 12 studio apartments nearing completion Modern one and two-bedroom apartments Ground floor units offering private yard spaces Prepaid electricity and prepaid water systems Centralized high-capacity geyser system Tenants contribute toward heating and cooling consumption Fingerprint access control for residents Intercom system throughout the development Separate entrance and exit gates 24-hour security infrastructure Dedicated security room with CCTV monitoring Electrical fencing surrounding the property Braai and entertainment facilities Children’s play park Laundry room with conversion potential into an additional income producing unit The development has been designed with operational efficiency, tenant convenience, and long-term sustainability in mind. Its secure environment, modern finishes, and practical amenities contribute to high tenant appeal and retention. For investors seeking a scalable residential asset with immediate returns and further income growth potential, this opportunity delivers both stability and upside in a single acquisition. Asking Price: R16 500 000 A strategic acquisition suited for property investors, developers, and portfolio buyers looking to secure a strong-performing residential asset with future expansion already in place. ?? Serious enquiries and qualified investors only.