5 Bedroom House in Port Alfred

R 1 600 000

Carole Hill

Lew Geffen Sotheby’s International Realty-Port Alfred

Gill Wansell

Lew Geffen Sotheby’s International Realty-Port Alfred

5 Bedroom House in Port Alfred

R 1 600 000

Can I afford this?
5 Beds
4 Baths
1 Garages
Floor Area 2755 m²
Land Area 2213 m²
Rates R 525
Levy R 635

Large erf of 2213sqm.

Fully walled with gates and doors.

On the main national road between Port Elizabeth and East London.

The property has been partly developed on the top section, leaving a large erf for development right on the national rd.

Presently there are

3x 1 bedroom units. All are fully furnished, with open plan lounge/dining/kitchen area and a separate bathroom with shower, toilet, baisin. The 1 bedroom units are let for R 3920pm

1x 2 bedroom unit. R 6020pm.

There are pay as you go meters in each unit. They have DSTV which is included in the rental. There is an alarm.

There is secure parking inside the property.

An Architect has drawn various plans for completion of the property.

A good option seems to be to build a further 8 bachelor flats plus 12 garages for storage.

The original plan was to build 28 units. The choice is yours.

The income at present is R 17,000 pm, making this a desirable investment. The buildings are in good condition, being recently built and converted. Aluminium windows with burglar bars and porcelain tiles throughout.

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Key Property Features

5
Bedrooms
4
Bathrooms
1
Covered Parkings
1
Garages
Alarm
Kitchen

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Carole Hill

Carole

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Gill Wansell

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Wansell

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5 Bedroom House in Port Alfred

R 1 600 000

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