R 2 799 000
| 5 Bedroom House for Sale in Newton Park
5
5
Serious seller has drastically reduced the price
This property consists of the original house on the property, of 268 m², that was converted during 2020/2021 into 5 X 1-bedroom apartments with own entrances, and are currently let at R30 000 per month to 5 tenants.
Behind this property on the remaining land, a municipal site development plan (SDP) to construct 7 X 67m² duplex townhouses, sectional title, has been approved already.
The total plot is 1 739m² in size.
At this price, one can either buy to keep the house for an investment, sub-divide the land and sell separately, or alternative build to sell / let.
The current rental of R30 000 on the 5 units build, after rates = a NETT RETURN of 12.2% on the purchase price!
An excellent investment opportunity, contact Johan to discuss.
Ps. we have building contractors who can quote on the construction of the 7 units approved, and oversee the construction thereof.
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Contact AgentWeb Ref 115677541
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