For Sale: Re-development Plot, Parklands, Nairobi | Kenya Property Centre (Ref: 6126)

Re-development Plot

Property is currently not on the market
It may now be rented/sold, under offer or temporarily withdrawn from the market.

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  • Re-development Plot, Parklands, Nairobi, Land for Sale
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Property Description

The property is 0.1496 of an acre within Park Road Area of Ngara, Nairobi County and lies at the junction of Kinshasa and Muslim Roads offering quick access to Ring Road Ngara Road . It is adjacent to the land planned for construction of affordable houses by the Ministry of Housing making it ideal for a mixed-use development.

It is situated about 150 metres from Joska Hotel and about 400 metres from Muslim Academy and Sir Ali Muslim Club.
Development on the property is an old three storey residential building containing 6 one bedroom units, two on each floor and is very ideal for redevelopment.
It is located in a neighbourhood characterised with mixed development comprising of high-rise blocks of flats, commercial developments and old residential developments ideal for redevelopment. Demand for land in this area for redevelopment purposes is both high and sustainable due to the proximity and spillover effects from Nairobi City Centre.
The property is fully let to various monthly paying tenants and generates a gross monthly income of Kshs. 120,000 or Kshs. 1,440,000 per annum.


Property Details

Property Ref: 6126Added On: 19 Aug 2020Last Updated: 23 Apr 2022
Market Status: Not AvailableType: Land   

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