House For Sale in Sea Point

R8,500,000
Property Details

This is a Golden Development opportunity in the heart of Sea Point. The plan as per design currently available is for 5 units each between 90 and 125sqm.

- Underground Parking

- Plans available (approved in principle)

- Demo permit in place

- Gr2

- 537sqm ERF

ROI gross as per feasibility 30% with a net ROI of 16% anticipated. Depending on financial budgeting and work flow management these numbers could be improved. Too good to pass on!

For further information a consultation and market valuation can be drawn up. The current going rate for units of this size and with a modern spec sits at around 45 to 55k per sqm with the top unit possibly reaching 60 -66k per sqm depending on finishing schedule.

The property is currently tenanted with a 3month termination clause. However, the tenant would be happy to stay on until due time, as he has been residing in the property for numerous years.

Property Features
Property Type
House
Bedrooms
3
Bathrooms
2
Land Size
537m²
Location
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