Commercial For Sale in Philippi

  • R6,700,000

Overview

Property ID: HZ2276142
  • Commercial
  • Property Type
  • 6
  • Bedrooms
  • 3.5
  • Bathrooms

Description

4 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 R6, resulting in a total potential rental income of R48,.

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

Total rental potential on the entire property of R70 – R80 p/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.

Address

  • City Cape Town
  • State/county Western Cape
  • Area Philippi

Details

Updated on November 4, 2024 at 1:03 pm
  • Property ID: HZ2276142
  • Price: R6,700,000
  • Bedrooms: 6
  • Room: 0
  • Bathrooms: 3.5
  • Property Type: Commercial
  • Property Status: For Sale

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