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House with 8 Flat Lets For Sale In Margate
R 2,445,000
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3 months ago76 views
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General Details
Location:
For Sale By:Agency
Description
Welcome my name is Steven, your South Coast real estate partner. Let's navigate property together. I'm devoted to transforming your aspirations into dwellings. Your dream is my mission. Let's make it real.
If you require Photos or any information regarding this property, Please feel free to contact me or DM me.
Attention Investors! An incredible opportunity awaits with this property featuring a main house and 8 flat lets for sale in the heart of Margate. This versatile investment boasts a strategic location and a range of rental units, making it a lucrative venture.
The property comprises:
• 5 x 1-bedroom units with 1 bathroom, kitchen, and parking
• 3 x 2-bedroom units with 1 bathroom, kitchen, and parking
• 1 x 3-bedroom main house with 2 bathrooms, kitchen, lounge, dining room with a sea view, cemented driveway, electric fencing, and an alarm system
Enjoy a steady income stream of R33,000 per month with flexible month-to-month lease agreements in place. The property also features a bird aviary built on the rear side of the 3 lock-up garages, accompanied by 2 storage rooms. Each unit is equipped with prepaid electricity meters for added convenience.
The communal garden, though modest, is well-maintained, and a pool on the property offers potential for renovation, turning this into a sought-after self-catering holiday destination. With a mere 5-minute drive to the main Margate beach, proximity to amenities, and a short walking distance to pubs and restaurants, this property caters to the needs of both tenants and holidaymakers.
Unlock the full potential of this investment by arranging a viewing today. With a little TLC and strategic adjustments, this property could become a thriving rental income or a popular spot for seasonal visitors. Don't miss out on this promising opportunity! Call today to schedule your viewing.
Has Pool
Property Reference #: RL1464
Agent Details:
Steven Plint
Real and Proper T
No 1 Bank Street (Corner Bank Street and Marine Drive)
Margate
KwaZulu Natal
If you require Photos or any information regarding this property, Please feel free to contact me or DM me.
Attention Investors! An incredible opportunity awaits with this property featuring a main house and 8 flat lets for sale in the heart of Margate. This versatile investment boasts a strategic location and a range of rental units, making it a lucrative venture.
The property comprises:
• 5 x 1-bedroom units with 1 bathroom, kitchen, and parking
• 3 x 2-bedroom units with 1 bathroom, kitchen, and parking
• 1 x 3-bedroom main house with 2 bathrooms, kitchen, lounge, dining room with a sea view, cemented driveway, electric fencing, and an alarm system
Enjoy a steady income stream of R33,000 per month with flexible month-to-month lease agreements in place. The property also features a bird aviary built on the rear side of the 3 lock-up garages, accompanied by 2 storage rooms. Each unit is equipped with prepaid electricity meters for added convenience.
The communal garden, though modest, is well-maintained, and a pool on the property offers potential for renovation, turning this into a sought-after self-catering holiday destination. With a mere 5-minute drive to the main Margate beach, proximity to amenities, and a short walking distance to pubs and restaurants, this property caters to the needs of both tenants and holidaymakers.
Unlock the full potential of this investment by arranging a viewing today. With a little TLC and strategic adjustments, this property could become a thriving rental income or a popular spot for seasonal visitors. Don't miss out on this promising opportunity! Call today to schedule your viewing.
Has Pool
Property Reference #: RL1464
Agent Details:
Steven Plint
Real and Proper T
No 1 Bank Street (Corner Bank Street and Marine Drive)
Margate
KwaZulu Natal
Id Subtitle 1262193058
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Estimated monthly repaymentR 26,497
Total property loan amountR 2,445,000
Total interestR 3,914,194
Total repaymentR 6,359,194
Interest rate at 11.75% for 20 years *
* The interest rate is by default set to the prime lending rate. Banking institutions may choose to lend to individuals at a rate above or below this prime rate.
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Selling for 3+ years
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