Property
Description
Property Description
This well-maintained 3-storey residential block of flats is situated on a 496 m² corner stand at 9 Noria Mabaso Street, Fordsburg, Johannesburg. The building comprises 17 fully tenanted residential units – a balanced mix of 1-bedroom, 1.5-bedroom, and 2-bedroom apartments – and generates a gross annual income of R1,394,572, with a net annual income of R991,272.88 after all operating expenses. Constructed in double-skin face brick with tiled communal corridors and steel-framed windows fitted with security burglar bars, the property offers direct street access from two sides. All 17 units are currently let with utility recoveries already in place, and the building is zoned Residential under the City of Johannesburg Metropolitan Municipality (Region F, Ward 58).
Features
17 Fully let residential units: 7 x 2-bedroom, 5 x 1.5-bedroom and 5 x 1-bedroom
Gross annual income of R1,394,572 | Net annual income of R991,272.88
Monthly operating costs approximately R33,608 (rates, water, electricity, maintenance)
3-Storey double-skin face brick construction on a 496 m² corner stand
Steel-framed windows with security burglar bars fitted throughout all units
Utility recoveries already in place across the portfolio
Prime corner position with direct street frontage on two sides
Area Description
Fordsburg is a well-established inner-city suburb located in close proximity to the Johannesburg CBD, forming part of the City of Johannesburg Metropolitan Municipality, Gauteng Province. The area benefits from strong and consistent rental demand driven by its affordability, central location, and excellent accessibility to major transport routes and public transport networks. Fordsburg offers residents convenient access to the Johannesburg CBD, Newtown, and surrounding commercial nodes, and is well served by a broad range of amenities including retail centres, schools, healthcare facilities, and places of worship.
Area Amenities
Oriental Plaza – approximately 0.5 km
Fordsburg Square Shopping Centre – approximately 0.4 km
Newtown Junction Mall – approximately 1.5 km
Market Theatre, Newtown – approximately 1.6 km
Johannesburg CBD (Park Station) – approximately 2.0 km