Updated: May 15
This residential going concern (Kshs 9m) is ideal for a developer who wishes to invest in Kitengela Township.
Do you live in Kitengela or nearby? Are you looking for an investment opportunity that is already ongoing? These 16 already occupied single rooms can be the beginning of your journey to acquiring a passive income.
This property is located within Kitengela town at only 600m from the main road. It also has 3 shared bathrooms as well as 3 shared latrines. The combined monthly income from all rooms is about Kshs 64,000 and this means that it generates a gross income of Kshs 768,000 before deducting costs. There is also scope for additional development on the property e.g digging a borehole to ensure permanent water supply. Looking at it from the eyes of an investor there are several options available;
1) It can be purchased as-is and continue to generate its monthly yield that can become an added income stream for somebody who wishes to increase their savings.
2) It can be purchased by a growing company to house relocating staff at the same rates especially if they are facing challenges finding accommodation close to their workplace.
3) The single units can be extended outwards and upwards to make bigger homes that attract higher rent. As you can see from the neighbourhood, high-rises are the trend.
4) The houses also can be flattened and new construction can be erected on the quarter-acre plot.
The options are endless.
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