We are pleased to introduce an excellent investment opportunity for property developers in New Payne, a highly sought-after area in Rural Mthatha. Located near essential amenities such as schools, local businesses, and public transportation, this area attracts working-class tenants seeking affordable rentals near the Mthatha CBD.
At Thamelo Properties, we are dedicated to transforming real estate markets and empowering communities through affordable land ownership. This property has clear, undisputed ownership and is being sold by an elderly owner preparing for retirement.
Property Features:
- 10-room flats (semi-complete)
- Boundary wall
- Electrical tubing
- Septic tank
- Roof in good condition
The property is in semi-good condition, requires only minor renovations, and offers a rental potential of R5,000 per month once occupied. Thamelo Properties can also assist you with tenant sourcing and management.
Important Considerations:
- Cash Only: Major banks do not fund rural properties; this must be a cash transaction.
- Additional Costs: The buyer is responsible for transfer costs and attorney fees.
Please let us know if you would like to schedule a viewing or require further details.
