Distress Deal | Fully Maintained Corner Building | G+2+Roof | 16 Units | Opposite Municipality | Al Musalla

An urgent, below-market investment opportunity to acquire a Fully Maintained, Income-Generating Residential Building (Ground + 2 Typical Floors + Roof) located on an advantageous corner plot directly on a main street in the heart of Al Musalla, Sharjah, right opposite Al Musalla Municipality. Covering a land footprint of 2,500 sq ft (building age approx. 17 years), the property has recently undergone complete comprehensive maintenance and upgrades. It comprises a total of 16 spacious residential apartments configured as 7 extra-large studios, 6 large 1-bedroom units with separate kitchens, and 3 large 2-bedroom units with separate kitchens. The building currently generates an established old contract income of AED 304,000 per year, with a projected revised market income of AED 370,000+ per year (yielding up to 10.57% projected ROI). Offered at a motivated asking price of AED 3,500,000 (Negotiable).
Property Specifications & Unit Mix

Location: Al Musalla, Sharjah (Heart of the district, facing Al Musalla Municipality)
Plot Type: Prime Corner Plot on a Main Road (موقع زاوية على شارع رئيسي)
Building Height: Ground Floor + 2 Typical Floors + Roof (G+2+Roof)
Land Area: 2,500 sq ft
Building Age: 17 Years
Condition: Fully renovated with full-building maintenance completed (تم عمل صيانة كاملة)
Total Residential Units (16 Units):
- 7 Extra-Spacious Studio Apartments
- 6 Large One-Bedroom Apartments (with dedicated separate kitchens)
- 3 Large Two-Bedroom Apartments (with dedicated separate kitchens)

Financial Details & Income Potential

Asking Price: AED 3,500,000 (Negotiable / قابل للتفاوض)
Current Existing Income (Old Leases): AED 304,000 / year (Gross ROI: ~8.69%)
Projected Market Income: AED 370,000 / year (Projected Gross ROI: 10.57%)

Highlights

Turnkey Condition: Fresh comprehensive maintenance completed across the entire building, requiring zero upfront restoration expense.
Dual-Street Corner Advantage: High-visibility corner location directly facing the municipality building with convenient access and tenant parking.
Exceptional Rental Upside: Re-leasing at current market rates unlocks an immediate rental growth to AED 370K annually (10.57% ROI).
Core Central Location: Walking distance to government departments, central souqs, retail centers, Rolla Square, and rapid transit corridors to Dubai.

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