CASSELDALE INVESTMENT OPPORTUNITY – UNLOCK 4 POTENTIAL RENTAL INCOME STREAMS
A value-add property with the potential to create a multi-unit rental investment while retaining the existing 3-bedroom home.
The existing house can remain intact, while the property's extensive garage and outbuilding space presents the potential to create three additional rental units, subject to zoning, municipal approvals, building regulations and technical feasibility.
POTENTIAL RENTAL CONFIGURATION
3 bedroom main house - indicative market rent: +-R13,000/month
Potential 2-bedroom flat (CONVERSION OF THE EXISTING 4 CAR GARAGE): - +-R5,500/month
Potential 1 bedroom flat (CONVERSION OF THE TANDEM GARAGE): - +-R4,000/month
Potential 1 bedroom flat (CONVERSION OF THE EXISTING OUTBUILDINGS): +- R4,000/month
Potential gross rental income: +-R26,500/month Potential annual rental income: +-R318,000
At the asking price of R1,790,000 this represents a potential gross rental yield of approximately 17,8 % before vacancies, rates&taxes, insurance, maintenance, utilities, management costs, finance costs and the cost of converting the additional accommodation.
Give me a call to make viewing arrangements.
Features
Rooms
Amenities
Bedroom
Bathroom
Kitchen
Lounge
DiningRoom
FamilyTVRoom
Office
Garage
Parking for four small vehicles
Garden
Outbuilding
Storeroom, Lapa, Workshop and Bathrooms
Parking
Security
Amenities
Property Location
Finance
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Disclaimer
While every effort will be made to ensure that the information contained within the Northpoint Realty website is accurate and up to date, Northpoint Realty makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.