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Land for sale in Narok Olopito Area

  • Land for sale in Narok Olopito Area
  • Land for sale in Narok Olopito Area
  • Land for sale in Narok Olopito Area
  • Land for sale in Narok Olopito Area
  • Land for sale in Narok Olopito Area
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Land for sale in Narok Olopito Area

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.

Photos for Land for sale in Narok Olopito Area

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 Kenya Narok county a few metres from Town.

Price Kes3.3m
Property Type For Sale
Category
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