House with Two Flats and Vacant Stand For sale

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 shower/toilet/basin

- 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