Commercial space in Philippi

4000 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 R6000, resulting in a total potential rental income of R48,000.

The Main House divided into 2 can be rented out @ R12 000 each = R24 000

Total rental potential on the entire property of R70 - R80 000p/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.