3 Bedroom House in Lorentzville

POTENTIAL POTENTIAL POTENTIAL!

VALUE-ADD OPPORTUNITY FOR THE INVESTOR, DEVELOPER OR BUYER WITH VISION

This property presents an exciting opportunity to acquire a well-positioned 447sqm residential property in Lorentzville with plenty of scope to restore, improve and unlock its full potential.

The property does require tender loving care to bring it back to its former glory, but the fundamentals are there - including a spacious stand, an existing 3-bedroom main house, current rental income and the opportunity to rebuild additional accommodation.

THE MAIN HOUSE OFFERS:

3 Bedrooms

1 Bathroom with bath, shower, toilet and basin

Spacious Lounge

Dining Room

Kitchen

Enclosed Stoep

Parking for approximately 2 vehicles

High boundary walls providing privacy and security

Currently tenanted

ADDITIONAL ACCOMMODATION POTENTIAL

The property previously had approximately 4 back rooms, which were unfortunately vandalised.

For the astute investor, these rooms present an opportunity to be rebuilt and restored, subject of course to the necessary approvals and compliance requirements.

Once the property has been properly renovated and the additional accommodation restored, the potential rental income could be in the region of R15,000 per month.

LOCATION, LOCATION, LOCATION

Situated in Lorentzville, bordering Kensington, Judith Paarl and Bellevue East, the property enjoys convenient access to established residential areas and is situated along a public transport

route.

Its location makes it well suited to buyers looking for an affordable property with the potential to generate multiple income streams after refurbishment.

WHY THIS PROPERTY DESERVES YOUR ATTENTION

R850,000 asking price

447sqm stand

Existing 3-bedroom house

Currently tenanted

Previously had approximately 4 back rooms

Opportunity to rebuild additional accommodation

Potential rental income of approximately R15,000 per month once properly restored

High walls for privacy

Excellent value-add opportunity

Ideal for an investor or buyer prepared to restore and improve

THE BOTTOM LINE

This is not a turnkey property - and that is precisely where the opportunity lies.

With the right vision, refurbishment and investment, this property has the potential to be transformed into a stronger income-producing asset while taking advantage of its large stand, established location and existing accommodation.

If you are looking for a property where you can add value rather than simply buy what is already finished, this Lorentzville opportunity deserves your attention.

This one is deliberately positioned as a buy, improve and increase income opportunity rather than trying to hide the condition of the property.

Contact us today to arrange a viewing and explore the possibilities.

DORICEL PTY LTD trading as REMAX Superior Mulbarton operates in terms of a franchise agreement with REMAX of Southern Africa.