Property description

Positioned in the heart of Bellevue, Johannesburg, just minutes from Wits University, Johannesburg CBD, major hospitals, educational institutions, public transport routes, and key employment hubs, this apartment block presents an exceptional opportunity for investors seeking strong rental demand and substantial value-add potential.

This solidly constructed brick-and-concrete building comprises six spacious self-contained apartments under one title, making it ideally suited for long-term residential rentals, student accommodation, workforce housing, or a refurbishment and repositioning project.

The accommodation consists of three spacious one-bedroom apartments, each offering a large bedroom, a bathroom with bath, basin and toilet, a separate guest toilet, kitchen, spacious lounge, and balcony. The building also includes three two-bedroom apartments, each featuring two well-sized bedrooms, two bathrooms, a kitchen, a large lounge, and balcony.

One of the property's standout features is the exceptionally generous size of the apartments. The lounges are considerably larger than those typically found in modern developments, and several tenants have successfully partitioned portions of these spaces to create additional bedrooms, further enhancing rental potential while still maintaining comfortable living areas.

Additional it includes six covered parking bays, providing one dedicated parking space per apartment, caretaker accommodation, a rooftop washing line area, an established garden area, spacious communal stairwells and passages, and durable face-brick and concrete construction. Large windows and balconies allow for excellent natural light throughout the building.

The property currently generates rental income from occupied units, while two apartments are presently vacant, creating an immediate opportunity for a new owner to increase occupancy and improve returns. At current market rentals and in its present condition, the building has the potential to generate approximately R35,000 per month in gross rental income when fully occupied.

While the building is structurally sound and continues to serve as an income-producing asset, prospective purchasers should note that maintenance, renovations, and cosmetic upgrades will be required. This presents an attractive opportunity for investors looking to modernise the units, improve tenant appeal, increase rental income, and unlock additional capital growth over time.

Its strategic location near Wits University and other educational institutions further enhances its appeal as a potential student accommodation investment, workforce housing development, or long-term residential rental asset, subject to any required approvals.

Properties offering six independent income-producing apartments under one title are increasingly difficult to find, particularly in established rental nodes such as Bellevue. Whether your objective is to secure immediate rental income, undertake a refurbishment project, or expand an existing property portfolio, this buiding offers a compelling combination of location, scale, and upside potential.

Asking Price: R1 900 000.

Price negotiable. Serious offers from qualified buyers will be considered.