37 Bedroom Apartment in Athlone

Description

PRIME RESIDENTIAL INVESTMENT OPPORTUNITYAn 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 todays market.Key Investment Features:Completed block with strong existing tenancyApproximate gross monthly rental income of R200 000Additional 12 studio apartments nearing completionModern one and two-bedroom apartmentsGround floor units offering private yard spacesPrepaid electricity and prepaid water systemsCentralized high-capacity geyser systemTenants contribute toward heating and cooling consumptionFingerprint access control for residentsIntercom system throughout the developmentSeparate entrance and exit gates24-hour security infrastructureDedicated security room with CCTV monitoringElectrical fencing surrounding the propertyBraai and entertainment facilitiesChildrens play parkLaundry room with conversion potential into an additional income producing unitThe 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 000A 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.

What we know about this property

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Portal facts

Floor size

2 056 m²

Listing date

15 May 2026

Property type

Apartment

Listing number

T5488472

Feature: Garden

yes

Feature: Kitchen

yes

Feature: Bedrooms

37

Feature: Bathrooms

37

Feature: Open parking

1