Renovation opportunity | bank repossessed stock | flamingo pointe estate

UNLOCK THE POTENTIAL – A 3-BEDROOM HOME WITH SERIOUS VALUE-ADD OPPORTUNITY

Bank-repossessed sales stock in sought-after Randpark Ridge – ideal for investors, renovators, flippers, DIY enthusiasts or buyers looking to create their own home.

This is not a conventional move-in-ready property – and that is exactly where the opportunity lies.

Situated in Flamingo Pointe Estate, Randpark Ridge, this 3-bedroom, 2-bathroom home is being sold strictly as-is after standing vacant for several years.

The property offers approximately 380m2 of land and features a practical open-plan layout comprising:

• 3 Bedrooms
• 2 Bathrooms
• Open-plan lounge and dining area
• Kitchen
• Tiled floors
• Private stand of approximately 380m2
• Secure estate environment

THE CHALLENGE – AND THE OPPORTUNITY

The property requires renovation and completion, making it particularly attractive to buyers who can see beyond the current condition.

The kitchen is fitted with basic cupboards, while the bathrooms require completion.

The primary issue resulted from blocked roof drainage, which allowed water to accumulate on the roof over time. This eventually caused deterioration of the waterproofing and subsequent water ingress.

Importantly, this is a known and identifiable renovation issue, rather than an opportunity where the extent of the work is unknown.

A quotation has been obtained for a comprehensive top-to-toe renovation of approximately R300,000, giving prospective buyers a starting point when assessing the renovation project and potential end value.

WHY THIS COULD BE A SMART VALUE-ADD PROJECT

For the right buyer, this property provides an opportunity to acquire a home at a substantially reduced entry point, invest in the renovation and create significant additional value.

It could suit:

PROPERTY FLIPPERS

Purchase, renovate, modernise and potentially resell once completed.

INVESTORS

Renovate and hold as a rental investment in an established Randpark Ridge location.

DIY & RENOVATION BUYERS

Take control of the finishes and transform the property according to your own specifications.

FIRST-TIME BUYERS WITH RENOVATION EXPERIENCE

Secure a property with the opportunity to create a home rather than paying a premium for someone else's completed renovations.

CONTRACTORS & PROPERTY PROFESSIONALS

An opportunity to utilise your own renovation team, potentially improving control over the final project cost.

LOCATION, LOCATION, LOCATION

Flamingo Pointe Estate is positioned in Randpark Ridge, an established residential area offering convenient access to schools, shopping, transport routes and everyday amenities.

One of the standout location advantages is the property's proximity to Trinityhouse Randpark Ridge, situated at 23 Knoppiesdoring Street. Trinityhouse offers pre-primary, preparatory and high-school education, making the surrounding area particularly convenient for families.

The estate itself has established residential appeal, with other properties in Flamingo Pointe marketed as secure estate living and offering gardens, parking and family-friendly accommodation.

Current and recent market listings within Flamingo Pointe demonstrate that completed homes in the complex can command considerably higher asking prices depending on size, condition and specification. For example, a renovated 3-bedroom unit has recently been marketed at R1.548 million, while a 2-bedroom unit has been marketed at R1.3 million. These are asking prices rather than guaranteed selling values, but they illustrate the potential value gap between a renovated property and distressed stock.

SOLD AS-IS – KNOW WHAT YOU ARE BUYING

This property is being sold strictly in its current condition.

Prospective purchasers should conduct their own inspections and satisfy themselves regarding the condition of the roof, waterproofing, structure, plumbing, electrical systems and all other aspects of the property before submitting an offer.

The renovation quotation of approximately R300,000 provides an indication of the proposed renovation scope, but purchasers should obtain their own professional assessments and quotations before proceeding.

THE BOTTOM LINE

This is a property for someone who sees potential rather than perfection.

With the right renovation strategy, this neglected home could be transformed into a modern 3-bedroom family residence in a secure Randpark Ridge estate.

The combination of:

Bank-repossessed stock + reduced entry price + 380m2 stand + 3 bedrooms + 2 bathrooms + established estate + excellent location + clearly identifiable renovation requirements

creates an opportunity that deserves serious consideration from experienced property buyers.

Priced at approximately HALF of the current value, this is not simply a home to view – it is a project to evaluate.

If you have the vision, renovation capability and appetite for a value-add property, this could be the opportunity you've been waiting for.

VIEWING BY APPOINTMENT

WhatsApp Lance to arrange your private viewing.

Come and inspect the property, assess the renovation requirements for yourself and decide whether this opportunity fits your investment or renovation strategy.

FLAMINGO POINTE ESTATE | RANDPARK RIDGE

3 Bedrooms | 2 Bathrooms | ±380m2 Stand | Renovation Opportunity | Sold As-Is