On offer for sale in Gitaru - Kanyariri Kiambu County is this five (5) storey residential apartment block that is 80% complete. Below is an analysis and breakdown of the provided information.
Property and Location Overview
Location - Gitaru / Kanyariri, Kiambu County.
Land Size - 60 x100 feet, equivalent to 1/8th of an acre (0.06 HA).
Access and proximity
300 meters off the tarmac (Gitaru – Kanyariri Road).
1 km off the Western Bypass.
800 meters off the Nairobi/Nakuru Highway from the Gitaru interchange.
Close proximity to public transport.
Legal Status
Construction approvals are all in place and valid.
Title deed is Freehold and currently mortgaged with a local bank.
Boundary secured by a stone perimeter wall with a steel gate.
Building and units details ( The building is designed primarily for residential rental income).
Stories: 5
Completion Status: 80% complete.
Total Rentable Units: 11 units - Ten (10) 2-Bedroom units and One (1) 1-Bedroom unit.
2-Bedroom Unit Description (6 of 10):
Master Ensuite.
Spacious lounge with open kitchen plan.
Spacious kitchen with MDF cabinets (upper and lower) and deep sinks.
Ceramic floor tiles.
Steel exterior doors and wooden flash interior doors.
Other features - Ample parking space and a complete septic tank.
- Power and Water connected.
Commericial and investment analysis
Selling price - Kshs. 26,000,000 (or nearest offer)
Cost to complete - Kshs. 3,000,000
Total investment cost - Selling Price + Cost to Complete - Kshs. 29,000,000
Monthly rent - (10 X Kshs. 25,000) + (1 X Kshs. 15,000) = Kshs. 265,000
Annual rent - Kshs. 265,000 X 12 months - Kshs. 3,180,000
Estimate gross ROI ( payback ) - Total Investment / Annual Rent income - 9 Years
Reason for sale - conceptual family agreement
For more information / viewing Call / WhatApp Alvin
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or Magdalene
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