3 Bedroom House in Rietfontein

House with two income generating flatlets and additional vacant Erf of 833sqm for sale.

Excellent opportunity for investors as the rental yield of the house & flats covers the bond amount.

The property consists of the following:

- 3 Bedroom house

- Two x bachelor flats

- Vacant stand in the ongoing process of being subdivided from the house & flats.

This vacant stand size comes to 833sqm, which may be developed as a second house, or sold separately once subdivision has been completed.

Alternatively the whole property has been zoned to develop & build 14 sectional title units.

The house consists of the following:

- Three bedrooms

- Two bathrooms

- Very spacious living area

- Open plan kitchen

- Small garden

- Monthly rent: R10 000 pm

The flats both consist of the following:

- Spacious bachelor living area bedroom with built-in cupboards

- Each have a newly renovated kitchen with granite tops

- Both have their own bathroom with showertoiletbasin

- Flats monthly rent: R5 000 & R4 500 pm each R9 500 total

- The flats are situated in a manner that both could also be used as office, or business space if not let out to residential tenants.

Four secure carport parking spaces available.

The vacant stand:

- a Panhandle stand at the back of the house, currently in the process of being subdivided from the main house with flats.

- The vacant stand measures 833sqm, excluding the driveway leading to the stand.

- Excellent opportunity to develop the vacant stand by building a second house.

House & flat is occupied with 3 good tenants with current total monthly rental yield amounting to R19 500 pm.

- House rental income: R10 000 pm

- Flat 1 rental income: R5 000 pm

- Flat 2 rental income: R4 500 pm