Significant opportunity on a spacious ERF.

Ref # 2276142
R5,950,000
Property Details
9 Eighth Ave
6 Beds
3.5 Baths
20 Open Parkings
4,104m²

4000 square meters of land with a six-bedroom house, enough parking space for 20 cars, and the potential to convert into rental units.

Main House:

Perfect for a large family with extended relatives, this property features a generously sized open-plan lounge, dining room, and a well-equipped kitchen. Additionally, there is an entertainment room with a spacious paved patio, a large garden and a pool area with a built-in braai and storage facilities. The property also offers ample space for pets, including horses. The six bedrooms come with built-in cupboards, providing plenty of storage space.

Redevelopment:

If desired, the property can be rezoned for commercial or high-density purposes. The process of submitting the rezoning application typically takes 18-24 months for approval.

Potential Rental:

There is potential to convert the property into rental units, with the possibility of having eight two-bedroom units available for rent. Each unit could be rented out at a rate of R6000, resulting in a total potential rental income of R48,000.

The Main House divided into 2 can be rented out @ R12 000 each = R24 000

Total rental potential on the entire property of R70 - R80 000p/m estimate.

Joe Przygonski is a representative of Real Estate Power CC, T/A RE/MAX PREMIER, an Independently Owned and Operated franchise of RE/MAX SA.

Property Features
Property Type
House
Bedrooms
6
Bathrooms
3.5
Open Parking
20
Land Size
4,104m²
Costs and Terms
Available From
31 Jul 2024
Share this Property
Make an enquiry
Interested in this property? Please fill in your details below, and we will contact you as soon as possible.
By clicking on "submit" you agree to our privacy policy.
You may also be interested in these properties
R 6,300,000
Just Listed
4
3
4
220m²
595m²
House for sale in Marina Da Gama
A Spacious Setting For A Special Home
Entertainer's waterfront retreat in sought-after Marina Da Gama close, offering water and mountain views — four bedrooms, three bathrooms, and a four-car garage.
R 4,350,000
6
4
5
310m²
495m²
House for sale in Crawford
Ready To Move In Family Home
Dual-living family home in sought-after Crawford near schools and shopping, ideal for extended families or business use, with an 80sqm granny-flat/shop, low-maintenance garden, and ample covered parking.
R 5,499,000
Video Tour
8
6
2
245m²
496m²
House for sale in Rondebosch East
Exclusive Family Living
Property features 8 bedrooms, 6 bathrooms, 245 m² floor size, and 496 m² land size with ample parking.