3 Bedroom House in Margate

Investment Potential

Investment Opportunity in Margate This property offers excellent potential for investors looking for a renovation project with multiple income opportunities. Located in Margate and close to all amenities, including Margate Beach, Lucien Beach, Hibiscus Mall, Margate Hotel, restaurants, schools, and other essential services. The property consists of a three bedroom main house, seven flatlets, and an abandoned cottage, all situated on a large property with sea views. The main house offers a spacious lounge with exposed wooden beams and a stone fireplace, a separate TV room, a kitchen with ample cupboard space and breakfast bar, a dining area, three bedrooms with built in cupboards, a family bathroom, and a main en suite bathroom. Additional features include a wrap around balcony with sea views, three garages, a workshop area, secure parking, water tank, gas geyser, access gate, security gate, and burglar bars. The seven flatlets are fitted with prepaid electricity meters and gas geysers, making them suitable for rental income or guest accommodation. Flatlet 1 offers an open plan lounge and kitchen, one bedroom, and a bathroom. Flatlet 2 offers an open plan lounge and bedroom, walk in closet, kitchen, and bathroom. Flatlet 3 offers a lounge, kitchen, one bedroom, and bathroom. Flatlet 4 offers an open plan lounge and kitchen, two bedrooms, bathroom, and a unique cave style room. Flatlet 5 is a bachelor unit with an open plan bedroom, lounge, kitchen, and bathroom. Flatlet 6 offers an open plan lounge and bedroom, kitchen, and bathroom. Flatlet 7 is a boathouse style unit with an open plan lounge and kitchen, two bedrooms, bathroom, and loft area. The abandoned cottage requires renovation and consists of an open plan lounge and kitchen, two bedrooms, bathroom, loft area, balcony with sea views, and a garage. This property could be suitable for Airbnb accommodation, long term rentals, student accommodation, staff accommodation, or guest lodging. With some renovation and upgrades, there is significant potential to increase its value and rental income.