Great Investment, Full Building for Sale! Ewan Residence, DIP

GIM Real Estate Brokers are pleased to offer a Full Building for sale located in Ewan Residence ,Dubai Investment Park.

This building has a perfect location within right in front of the shopping center and a minutes walk to the facilites such as play areas, tennis court, swimming pool.

G+2 plot size 10826 SF
Apartments: total 12 units
2 units of 3 Bedroom + Maid
6 units of 2 Bedroom + Laundry
4 unit of 1 Bedroom

Current total rent:
2BR 75, 000 AED ( 75K for 2BR )
1BR 60,000 AED ( rental price 60K for 1BR)
3BR - 90,000 AED (rental Price 90k for 3BR)
Total: 870,000 AED

Annual Land rent:38,000 AED( 5 years PDC to the developer)
Annual Service Charges:80,000 AED( 5 year PDC to the developer)
Maintenance:20,000 AED(building nr 48 using the company for the annual maintenance for 20,000 AED per year, we can advise all the contacts)
Building Insurance 20,000 AED

CURRENT NET INCOME AS PER CURRENT RENT
870,000 AED - 158,000 AED = 712,000 AED net income
712,000 AED / 8,750,000 AED * 100% = 8. 14% income

POTENTIAL NET INCOME AS PER NEW RENTS will increase 5%
904,500 AED - 158,000 AED = 746,500 AED net income
746,500 / 8,750,0000 AED * 100% = 8. 53%

Here all extra payments required from buyer for the property transfer:

Admin/Document fee 15,000 AED payable to the developer

NOC fees ( Non Objection Certificate) 5,000 AED payable to the developer

Transfer fees 4% to the Land Department

2% agency fees

Call Ali Kassem on or visit www. gimrealestate. com for further details

Property Information

TypeResidential Building
PurposeFor Sale
Reference no.Bayut - 555-Rb-S-0543
CompletionReady
Average Rent
Added on22 July 2019

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