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EXCITING DEVELOPMENT OPPORTUNITY OVERLOOKING VCC
R 4,945,000
Can I afford this?
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5 months ago111 views
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General Details
Location:
For Sale By:Agency
Dwelling Type:House
Bedrooms (#):4
Bathrooms (#):2
Size (sqm):5532
Parking:Garage
Description
This spacious 5567m2 property is perfect for an investor looking to develop a residential complex.
The approved scheme allows for a total of 11 units,
The property currently has an existing house, which is roughly 230m2, and a freestanding double garage with servant's quarters. the existing house 3 bedrooms or 2 bedrooms and 1 study, a full common bathroom, and 1 en-suite. also feature an open plan lounge, kitchen, and dining room, a double garage, a laundry, and a veranda at the front.
Please note that municipal submission fees, the final plan proposal, engineers/geotechnical design, and all other associated fees/costs are excluded.
The property is in a closed corporation named Royal Consortium, with the sole member being the owner of the property. The property also comes with R250 000.00 worth of bricks on site, which will be included in the sale should the full selling price be achieved. The existing house is tenanted with a rental income of R10 500.00 per month, making this an excellent investment opportunity.
Don't miss out on this incredible opportunity.
Zoning: Residential
Ownership Type: Freehold
Mandate Type: Open
# Parking: 2
Rates And Taxes: 2375
Property Reference #: 1186
Agent Details:
Ashwin Singh
Profile Property
50 Howick Road, Pietermaritzburg
The approved scheme allows for a total of 11 units,
The property currently has an existing house, which is roughly 230m2, and a freestanding double garage with servant's quarters. the existing house 3 bedrooms or 2 bedrooms and 1 study, a full common bathroom, and 1 en-suite. also feature an open plan lounge, kitchen, and dining room, a double garage, a laundry, and a veranda at the front.
Please note that municipal submission fees, the final plan proposal, engineers/geotechnical design, and all other associated fees/costs are excluded.
The property is in a closed corporation named Royal Consortium, with the sole member being the owner of the property. The property also comes with R250 000.00 worth of bricks on site, which will be included in the sale should the full selling price be achieved. The existing house is tenanted with a rental income of R10 500.00 per month, making this an excellent investment opportunity.
Don't miss out on this incredible opportunity.
Zoning: Residential
Ownership Type: Freehold
Mandate Type: Open
# Parking: 2
Rates And Taxes: 2375
Property Reference #: 1186
Agent Details:
Ashwin Singh
Profile Property
50 Howick Road, Pietermaritzburg
Id Subtitle 1299390531
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Estimated monthly repaymentR 53,590
Total property loan amountR 4,945,000
Total interestR 7,916,436
Total repaymentR 12,861,436
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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Profile Property
Selling for 2+ years
Total Ads334
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