Building for Sale with AED 240K Income

Residential Building for Sale in Al Nuaimiya 2, Ajman – Annual Income AED 240,000
An investment opportunity to acquire a residential building in Al Nuaimiya 2, Ajman, behind Kuwait Street. The property occupies a plot of approximately 4,200 sq. ft. and consists of a ground floor plus two floors, with a total of 12 apartments offering a mix of one-bedroom and two-bedroom layouts.
The building has undergone interior and exterior maintenance and improvements, including upgraded corridor décor, exterior granite installation, interlock paving in front of the building, and the provision of space for parking. All apartments are equipped with Super General split air-conditioning units.
This property may appeal to investors looking for an established residential asset with current rental income and the potential to review rental returns in the future, subject to existing tenancy contracts, applicable regulations, and prevailing market rents.
Property Details

Location: Al Nuaimiya 2, behind Kuwait Street, Ajman, UAE.
Property Type: Residential Building.
Building Configuration: Ground Floor + 2 Floors.
Plot Area: 390 sq. m. / approximately 4,200 sq. ft.
Building Age: 20 years.
Total Apartments: 12.
Air Conditioning: Super General split units in all apartments.
Condition: Interior and exterior maintenance completed.

Apartment Composition

5 two-bedroom apartments with living rooms.
7 one-bedroom apartments with living rooms.

Maintenance and Improvements
The building has undergone maintenance and improvements, including:

Interior and exterior maintenance.
Decorative upgrades in the corridors.
Exterior granite installation to help protect the façade from rain exposure.
Interlock paving in front of the building.
Provision of an area for parking.
Installation of Super General split air-conditioning units in all apartments.

Current Annual Rental Income: AED 240,000.
According to the information provided, there may be scope to review rental income in the future because some existing rents are old. Any increase would depend on current tenancy agreements, applicable regulations, and prevailing market rental rates.
Preliminary Investment Analysis
Based on the current reported annual income and asking price, the estimated gross rental yield is approximately 7.5% per year, before maintenance, operating expenses, fees, and other property-related costs.
Asking Price: AED 3,200,000, negotiable.
This building is worth considering for investors seeking a residential property in Al Nuaimiya 2, Ajman, with 12 apartments, completed maintenance improvements, current rental income, and the potential to review returns over time.
For further information about the building, current income, tenancy agreements, and property documentation, please contact the advertiser.