The apartment is located in Fairglen Mews in Austell Road, Heathfield, it is secure and close to Harry Schoeman retail centre, says Tanya Jovanovski, Rawson Auctions franchisee for the Western Cape.
Jovanovski says levies charged by the body corporate amount to R500 per month and Rawson Auctions will be looking for offers from R380 000.
She points out that a unit of the same size in the same block was sold last year for R415 000.
“It is quite conceivable that this unit could attract a rent of R3 500 per month which, like so many other units in this area and in this price range, means that the investor would be getting a return of ± 8 percent per annum from day one.”
On 25 July, Rawson Auctions will auction a home in Plumstead and the auction will take place at Rawson Auctions Head Office at 12 noon.
Jovanovski points out that Plumstead is one of the Cape Peninsula’s most sought after suburbs because it is still able to offer residential property at prices that lower middle income earners can afford.
The home sits on an 800 square metre plot, has four bedrooms, a large entertainment area, living and family rooms, a single garage, a large braai courtyard and a swimming pool.
She says this property could probably attract a rental of R8 000 per month and the reserve price has been set at R1 million, below the R1.2 million to R1.5 million prices currently being achieved for homes in the area.
One of Simons Town's last remaining large pieces of undeveloped land will be taken to auction by Aucor Property on 26 July 2012.
The vacant land, a total of 4 451 square metres is being sold with plans in place to develop 15 residential duplex units, a development to be known as 'Harbour Terrace'.
The property overlooks False Bay and is close to the Harbour, restaurants, shops and naval base.
Debbie Sherman of Aucor Property says large pieces of land such as this along the coast, especially those with plans already in place to be developed, are highly sought after.
“The heritage and history that is held by Simons Town has recently attracted various property developers to the area, and with little vacant land still available, we have received much interest in this property.”
Sherman says the property has had rezoning approved and a target cost plan is in place for development and an intensive geotechnical survey has been completed.
The auction will take place at the One and Only Hotel, V&A Waterfront, Cape Town at 12pm on Thursday 26 July.
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