For sale: 3 Blocks Fully Furnished Serviced Apartments On 0.66acres In Westlands

Westlands Nairobi

KSh 450,000,000

Commercial Property For Sale Westlands Nairobi

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Property Type Commercial Property
Added 07 Feb 2024

Updated 07 Feb 2024

Description

3 Blocks Fully Furnished Serviced Apartments on 0.66Acres in Westlands
Asking Price Ksh 450,000,000
Negotiable
CALL 0787309099 OR 0783020248
DESCRIPTION:
These are furnished and serviced apartments situated off Brookside Drive
In Westlands. The location offers proximity to areas such as Gigiri, Parklands ,
Rosslyn, Nyari , Lower Kabete and Westlands
The property is in a quiet, serene and well-maintained neighborhood and
is frequented by quality tenants such as expatriates and international
organizations at competitive rental levels.
The property offers 3 Blocks of 24 apartments comprised of 2 Studios,
5 1-Bedrooms and 17, 2-Bedroom furnished apartments.
#TITLE &TENURE
The property is built on 0.6508 acres and extends to 2,767 Sqm in gross built area.
The Title is of leasehold term of 24 years and 2 months from the 1st July 2019
(c.24 years and 2 months unexpired).
The payable land rent is Ksh. 22,720 p.a while land rates amount to
Ksh. 38,590 p.a.
A total of Kshs.61,310 p.a .
*PROPERTY BREAKDOWN*
Blocks Comprise of;
(A) 6 units of 2-Bedroom and 2 units of 1-Bedroom
(B) 6 units of 2-Bedroom, 2 units of 1-Bedroom and 1 Studio
(C) 5 units of 2-Bedroom and 1 unit of 1-Bedroom
Gym
Clubhouse
1 Studio
Steam and Sauna
Gents and Ladies
Caretaker's Accommodation
Amenities
Ample parking of about 36 cars,
Swimming pool ,
Gym
Steam and Sauna
Electricity and water:
Mains for electricity and water and sewerage are connected to the property.
Water tanks:
An underground water tank of estimated capacity of 60,000 Liters.
Generator:
A standby generator
TENANCY OVERVIEW:
The apartments have occupancy of above 90%. It's location is prime and commands
rental rates of about Ksh 85,000 for studios, Kshs.140,000 for 1 Bedrooms and
Kshs.160,0000 for 2 Bedrooms .
Currently the building has an average rental income of Kshs.3.59M per month
(Kshs.43.08 Million per annum) at 100% occupancy Copies of tenancy schedule,
operating expenses are available upon request.

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