Narok Narok ( KE - 23334) Built

KES3,300,000 KES

Nairobi Real Estates Limited

Nairobi Real Estates Limited Nairobi Real Estates Limited 0725884003 (Office) 0725884003 (Cell) Request More Info

  • Type: Lots and Land
  • Style: Lot / Land
  • Development Level: Built
  • Lot Size: 2 acres

Description

2 Acre Land for sale in Narok Olopito Area - farming or sub-divisions. This property for sale in Narok county is good for development of houses for rent, as well as sub-division of plots that can sell at between kes 350,000 to Kes 400,000 per 1/8 acre plot.

This plot is about 4 Kilometres from Narok town centre. It is on the raised area of Olopito, currently under residential houses. The area has several plots sub-divided for sale.

Each of the acre is selling at Kes 1.65m.

Specifications

- Land is flat and arable
- can be developed easily
- Near other plots that have already been sub-divided
- Good for agricultural purposes


Take a proposal to sub-divide and sell as plots.

Assume 1 acre will yield 7 plots. Each selling at Kes 400k.

The income / expenses would work like below

Gross sale - Kes 400 x 7 = Kes 2,800,000

Expenses
1. Purchase of the 1 Acre = Kes 1,650,000.00
2. Take closing costs - Stamp Duty, etc = Kes 80,000.00

3. Sub-division of 7 plots @ 15k per plot = Kes 105,000.000
4. Agency commission of each @ 25k x 7 = Kes 175,000.00
5. Raising of completion docs @ 10k x 7 = Kes 70,000.00
6. Capital gain tax - = Kes 30,000.00

Total costs = Kes 2,110,000.00

Net profit = Kes 690,000.00

Profit Margin 690k/2110k = 33% {can be achieved in 1 year}

Land for Sale County good for development of real estate. The property is currently under agricultural use. The property can be used for cultivating wheat, maize, beans, grass among other crops. A real estate investment opportunity in Narok county a few metres from Town.

Attachments

P2#288454361
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Information is deemed to be correct but not guaranteed.