This lovely property offers significant potential for extension and increased rental income. Currently, the home is occupied by five tenants, each with their own room, generating a potential rental income of R17,000 per month when fully let.
For those looking to maximize earnings, plans have already been drawn up to add three additional rooms, allowing for up to eight tenants and an increased rental income of nearly R27,000 per month. These plans have not yet been submitted to the council, leaving the new owner with the flexibility to proceed as desired.
Originally built in 1967, the home retains its original parquet flooring, adding a touch of classic charm to its spacious bedrooms. The kitchen is generously sized, featuring ample built-in cupboards and a built-in stove, perfect for any home chef. The rest of the home includes a dining room and an open-plan lounge, currently separated by a dry wall. The lounge has been converted into a bedroom, reflecting the property's versatility.
The house comprises three bedrooms and a full family bathroom with a separate toilet located at the back. The original garage has been converted into a large bedroom, spacious enough for two big beds, and features tiling and a dry wall behind the original garage door.
The outside area boasts a spacious yard, providing plenty of room for pets and children to play.
For added security, the home is equipped with burglar bars, safety gates, and an alarm system (not currently in use). Additionally, the property is fibre-ready and connected.
Conveniently located near key amenities such as Cape Gate Shopping Centre, Cape Gate MediClinic, as well as local high schools and primary schools, this home is ideally situated for families and investors alike.
Pre-qualified buyers are invited to book a private viewing of this extraordinary property.
The erf measures 496 sqm
Rates and taxes approximately R1,400 per month (including water and sewage).
Contact for appointments to view this great property
Kraaifontein in the Western Cape is part of Cape Town's ever-popular Northern Suburbs region. It's perfectly located near the N1, with Paarl to the north and Kuils River to the south, and only a 20 to 30-minute drive to Cape Town International Airport and the city centre.
The suburb is surrounded by stunning natural scenery and is within arm's reach of the winelands of Durbanville, Paarl, Stellenbosch and...
More Info
Moyra De Lange
Non-Principal Property Practitioner Registered with PPRA (FFC 100 748 3)
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Please note: Most banks charge an administration and initiation fee. Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.
