Spacious, character home with flatlet, great development potential or rental investment!
This character-filled, seven bedroom house with a flatlet is located in an up-and-coming part of Woodstock in a great position for development. The property has access from two streets on either side of the property. The property is ready to be developed into something incredible or would make an excellent rental return! With an average rent of approx R5000/room, the rental return is in the region of R40,000/m to R50,000/m.
This spacious house has beautiful views of Devil’s Peak and is within easy commute of the city centre, just 6 minutes by car! The property has beautiful, Oregon pine wood floors, some exposed beams and stained glass giving it that character Woodstock feel.
The property is arranged downstairs as: 1 bedroom, 1 bathroom, a lounge, kitchen, dining room, enclosed stoep, store room and flatlet with a garden and shed to the front of the property and a triple carport to the rear. The enclosed stoep and lounge could be converted into accommodation with the kitchen and dining rooms being the communal areas of the property. This would bring in an additional income of approx R10,000/m. Upstairs the property is arranged as 6 bedrooms, 1 bathroom and a large landing.
You are just a short taxi to UCT, the numerous shops, restaurants and schools of the city center or the trendy bars and cafes of Woodstock and Obs. This property is within Cape Town’s Urban Development Zone. The city is encouraging ongoing development of the area, ensuring the growth of prices and overall condition of local properties.
Rates (approx): R 1,400/m
Zoning: General Residential GR4
ERF Extent: 340m2
Building Extent (approx): 235m2
Age: 21 years old