Property
Description
Property Description
Kingsgate Flats is a well-established 73-unit sectional title apartment complex set on an expansive 16,293 m² site, offering a substantial residential investment opportunity backed by a strong tenant profile and consistently high occupancy levels.
The development comprises a balanced unit mix of 16 three-bedroom apartments of approximately 115 m² each, and 57 two-bedroom apartments of approximately 95 m² each, catering to a broad range of tenant needs.
Residents are well served by 100 shaded parking bays, offering convenient and secure parking throughout the complex. Communal amenities include a well-maintained swimming pool, while security is reinforced by a combination of CCTV camera surveillance and dedicated on-site security guards, ensuring a strong level of comfort and protection for occupants.
Financial Overview -
The income is split between rent, parking and security
• Gross Annual Income: R6,742,716.00
• Net Annual Income: R5, 370,478.20
Investment Benefits:
• All units are fully sectionalized, allowing the buyer to acquire the property without incurring transfer costs — a significant saving on transaction expenses.
• Clear upside potential through the future installation of solar power and a borehole, offering opportunities to reduce utility costs and enhance the property's long-term value and appeal.
• All units have pre-paid electricity meters and Water is billed per unit and 100% recovered
Kingsgate Flats represents a rare combination of scale, stability, and untapped upside — a compelling addition to any income-generating property portfolio.
Features
• 73-Unit sectional title apartment complex
• 16,293 m² expansive development site
• Fully occupied / high-occupancy residential investment
• 16 Three-bedroom apartments of approximately 115 m² each
• 57 Two-bedroom apartments of approximately 95 m² each
• 100 Shaded parking bays
• Established rental income stream
• Multiple income sources: residential rentals, parking and security recoveries
• Gross Annual Income: R6,742,716.00
• Net Annual Income: R5, 370,478.20
• Swimming pool and communal recreational facilities
• CCTV surveillance throughout the complex
• Dedicated on-site security guards
• All units fully sectionalised
• Potential transfer-cost saving for the purchaser
• Future solar installation potential
• Future borehole installation potential
• Opportunity to reduce utility and operating costs
• Value-add potential through improved energy and water independence
• Large underlying land component
• Diversified and recurring income profile
• Suitable for income-focused property investors
• Potential long-term capital growth and income enhancement
Area Description
Crown Gardens is an established residential suburb in Johannesburg South, within the City of Johannesburg Metropolitan Municipality, bordered by Ormonde to the north and Mondeor to the south. The area is a settled, higher-density residential node on the old mining belt south of the city centre, with good arterial access via Rifle Range Road, Crownwood Road and the nearby N12 and M1 interchanges. Day-to-day facilities are close at hand: the Crown Gardens Clinic is under half a kilometre from the property, convenience retail sits on Rifle Range Road, and the Ormonde Shopping Centre is about a kilometre and a half away. Southgate Mall in Mondeor, the main regional centre for Johannesburg South, is roughly two and a half kilometres away, and Gold Reef City lies about two kilometres north. Schooling in the surrounding suburbs includes Mondeor High School and the Crown Mines and Crown Reef primary schools. The Johannesburg CBD is approximately six kilometres to the north-east, and Netcare Mulbarton Hospital about seven and a half kilometres to the south-east. The combination of established residential demand, arterial access and proximity to employment nodes is the context for the tenant profile the seller describes.
Area Amenities
Crown Gardens Clinic, Ulster Crescent – 0.4 km
Moon Supermarket and Bakery, Rifle Range Road – 0.9 km
Ormonde Shopping Centre, Crownwood Road – 1.3 km
Gold Reef City, Ormonde – 2.1 km
Mondeor High School, Beauval Avenue – 2.4 km