Good investment property with scope to increase income drastically!
Options:
Keep the front heritage faade in front, and do a new and exciting development
OR
Keep the existing buildings, renovate and increase the potential income!
This unique property offers a lot -
1. Two semi-detached houses with heritage fronts-
One bedroom house - current rent R3 800 p.m.
Two bedroom house - current rent R5 300 p.m.
2. Enormous 130m laundry - current rent R5 800 p.m.
This huge open space is something to seriously look at - it can be converted into more accommodation to rent out.
3. Four bachelor flats - current income R5 500 per unit. Two of the units are rented out but a much better income can
be achieved by some renovations and upgrading.
4. Large Double story house - current rent R8 000 p.m. This building can be divided into two or more living spaces and the
rental income can be increased drastically with some refurbishment.
The current monthly income is R28 400. It is a drop in the bucket to what the property can yield with TLC.
It is perfectly located in the mixed use zone area, next to an Apartment block.
Some other possibilities include:
1. Apartment building
2. Community residential
3. Dwelling house
4. Group housing
5. Hostel
6. Lodging accommodation
7. Second dwelling house
8. Third dwelling unit
9. Visitor''s accommodation
10. Occasional use (x1)
12. Restaurant (on ground on activity street)
13. Shop (on ground on activity street)
14. Utility services
15. Medical Facility
16. Dementia/Alzheimer center
19. Retirement village
Original building plans available.
Are you ready for a new challenge in 2024? Let''s make this happen!
Key Property Features
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