1 Bedroom Apartment / Flat For Sale in Siteki
Description
An excellent investment opportunity awaits in Mvelo Township, Siteki, featuring a newly built block of five modern 1-bedroom flats on a well-secured property. The development is fully tenanted and currently generates a rental income of E15,000 per month, making it an attractive income-generating property.
Each unit offers a comfortable lounge, kitchen, shower, bathtub, and toilet, with every flat having its own EEC and EWSC meter, allowing for individual utility management.
The property is securely enclosed with proper fencing and features a D-6 smart electric gate that can be operated via smartphone or remote control. Security is further enhanced by 8 CCTV cameras, a dedicated guardhouse with its own meter, and four street poles fitted with solar lighting.
There is ample space available for parking, with a carport yet to be installed. The property is currently fully occupied, with 25 potential tenants on the waiting list, providing evidence of continued demand for the units. The existing tenants are predominantly high-income-earning professionals.
The guardhouse also presents an opportunity to generate additional rental income. With its existing layout and facilities, the property could also potentially be converted into a well-positioned guesthouse, subject to the necessary approvals and requirements.
Property Features:
- Newly built development
- 5 × 1-bedroom flats
- Lounge and kitchen in each unit
- Shower, bathtub and toilet
- 861 sqm plot
- Proper fencing
- D-6 smart electric gate with smartphone and remote access
- 8 CCTV cameras
- 4 solar-powered street lights
- 1 guardhouse with its own meter
- Individual EEC and EWSC meters for all units
- Fully tenanted
- Current rental income: E15,000 per month
- 25 potential tenants on the waiting list
- High-income professional tenant profile
- Ample parking space
- Carport space available for future installation
- Guardhouse offers potential for additional income
- Potential for conversion into a guesthouse, subject to approvals
Asking Price: E2,350,000
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