0.5 ac Commercial Property in Ngara

KSh 250,000,000

Ngara

Size:

0,5 ac

Report

Commercial Property Description

This property is located in Ngara West and located between Embu-Nairobi Highway and Muranga Road. The property seats on 0.5acres and currently 50% developed with mainly 2bedroom and 3bedroom apartments. This property is ideal for a developer seeking to develop quality high-rise apartments, which are highly sort after in the Ngara area. Current zoning is commercial residential. Total number of floors approved by County is between 10 - 12floors maximum. Land rates fully paid. Great Investment Opportunity! The current developed apartments obtain a rental income of KSH500,000 per month from the apartments as follows:  Three bedrooms are 11units in total  Two bedrooms are 4units in total  One bedroom is only 1unit  There is adequate water supply from Nairobi Water  Each unit has it's own water and power (postpaid) meters  Each tenant gets a dedicated water tank  Sewer is connected to the Mainline (NCWSC)  Property zoned as commercial residential  Long land leasehold in place on the land  Close proximity to Gymkhana, Pangani, Nairobi CBD and all major highways and road access in Nairobi.