Description

Accepting Offers. DESCRIPTION: These three prime properties are situated in sought after and ever so popular Rondebosch Village. Close to UCT, shopping centres and top schools in the area makes this the perfect property for re development with GR 4 Zoning. • Three Erven • Properties next to each other • Total – 1125m² • Zoning – GR4 on both • Total bulk available is 1687m² • Sectionalization possible • Large apartments can be divided into 2 11 Forest Rd: • 3 Large bedrooms & potential 4th bedroom • Lounge & dining room • Fitted kitchen • 2 Bathrooms • Sizable back garden for a pool & building addition • Secure 2 parking bays • Recently renovated 13 Forest Rd: • Two large apartments – 2/3 beds can be converted into 4 apartments • 2 Lock up garages – can be converted into 2 studios 15 Forest Rd: • 3 Large apartments – 1 bed • 1x Large apartments - 2 beds • 1 Studio apartment Perfect for student accommodation @ ±R6500 - ±7000 per room sharing rate. • Current under-market annual rental income of ±R840,000 per annum • For the two blocks and house is owner occupied – potential income of ±R420,000 pa • Current total undervalued income is ±R1.260mil giving a great return as residential income, however there is room for at least 25% more income if they are let at market related rental rates. If converted to student accommodation, each room could fetch ±R15,000 pm . 2 Blocks can be bought together & house separately. Perfect for development if 3 erven are consolidated. • Viewing Day: Monday 23 March 10:00 -10:30 DETAILS: • Erf no (Extent): 45818, Cape Town (357m²) • Erf no (Extent): 45817, Cape Town (357m²) • Erf no (Extent): 45816, Cape Town (411m²) • Zoning: General Residential 4 DISCLAIMER: The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Brokers. Buyers must conduct their own investigations prior to purchasing.