Commercial - Block of Flats for Sale in Glenlilly

Description

Secure a compelling asset in Cape Town's high-demand rental market. Tokomak House presents a rare opportunity to acquire a fully tenanted, owner-controlled apartment block positioned at a high-visibility, prime location on the corner of Voortrekker Road and Gardiner Street, Glenlily, Parow. This investment is tailored for VAT-registered investors seeking strong cash flow, capital growth, and the significant advantage of a potential Zero-Rated VAT transaction. Investment Highlights Key Features Asset Type: Fully tenanted residential apartment block Location: Prime corner exposure – Voortrekker Road & Gardiner Street, Glenlily, Parow Total Units: 58 income-producing units Gross Lettable Area (GLA): ±1,773 m² Unit Mix: Primarily bachelor & one-bedroom units (24 m² – 65 m², avg. 31 m²) A selection of two- and three-bedroom units Management Structure: No body corporate No levies 100% owner control VAT Advantage: Seller is VAT-registered Potential Zero-Rated VAT sale for VAT-registered buyers (subject to standard requirements) Additional Income Opportunities: Advertising signage Rooftop cellular tower leasing Management: Currently owner-managed Professional rental agent in place for smooth operations Operational & Value-Add Enhancements: The current owner has invested significantly in upgrades and enhancements to ensure long-term efficiency and tenant satisfaction: Infrastructure Upgrades: New lift installed Aesthetic Improvements: Entire building recently repainted Energy Efficiency: Boiler relined New heat pumps installed for hot water supply Utility Control Systems: New water, electricity, and hot/cold metering installed in all 58 units Unit Modernisation: Built-in cupboards in all units New electric stoves fitted Connectivity: High-speed internet available throughout the block Tokomak House is positioned within a strong rental demand node, offering investors a secure, high-yield asset supported by a proven history of effective management. The benefit of single-owner control with no body corporate or levy costs — provides strategic flexibility in managing expenses and rental growth. This property is ideal for investors seeking to scale their residential portfolio with an asset that provides: Immediate income Modernised infrastructure Strong operational foundations Additional revenue stream potential Contact Ian today for the full rental roll, financials, and to discuss the Zero-Rated VAT opportunity.