Investment Opportunity with Redevelopment Potential
Discover an exceptional investment property offering a lucrative opportunity to elevate your income streams significantly! This property presents a compelling proposition for astute investors seeking to capitalize on its prime location and redevelopment potential.
Key Features:
1. Heritage Façade: Embrace the charm of the past while envisioning a new and exciting development. Choose to preserve the front heritage façade, infusing it with modern design elements to create a captivating blend of tradition and innovation.
2. Existing Structures with Rental Potential:
- Semi-Detached Houses: Currently generating substantial rental income, comprising a one-bedroom house and a two-bedroom house with rents of R3,800 p.m. and R5,300 p.m. respectively.
- Enormous Laundry Space: With a sizeable ±130m², this space offers immense versatility. Explore the potential to convert it into additional accommodation, unlocking further rental opportunities. Currently tenanted to existing laundry business owner.
- Bachelor Flats: Currently yielding R5,500 per unit, with the potential for enhanced returns through strategic renovations and upgrades.
- Double Story House: Generating R8,000 p.m., consider dividing this spacious dwelling into multiple living spaces to maximize rental income with refurbishment.
Current Income and Future Potential:
The existing monthly income of R28,400 merely scratches the surface of what this property can yield with proper attention and investment. With TLC (Tender Loving Care), you can unlock its true earning potential and witness your returns soar.
Strategic Location and Zoning Possibilities:
Ideally situated in a "mixed-use zone area" adjacent to an apartment block, this property offers diverse possibilities for redevelopment:
- Apartment Building
- Community Residential
- Hostel
- Restaurant or Shop (on ground on activity street)
- Medical Facility
- Retirement Village, and more.
Additional Advantages:
- Original building plans available, facilitating redevelopment initiatives.
- Seamless access to essential amenities and transportation links.
Seize the Opportunity:
Let's embark on this journey together and unlock the full potential of this remarkable property. Contact us today to explore this unparalleled investment opportunity and transform your vision into reality!