R11,950,000
R11,950,000
Monthly Bond Repayment R125,386.09
Calculated over 20 years at 11.25% with no deposit.
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11 BEDROOM HOUSE IN PRIME MUSGRAVE FOR INVESTMENT AND DEVELOPMENT
A Rare opportunity to acquire this large house comprising of 4 self contained units In Central Musgrave with beautiful sea views.
The total land size is 847 sq. mt. The one unit covers 3 levels featuring a total floor area of 446 sq. mt and one adjoining unit of 237 sq. mt. giving you a total floor area of 683 sq. mt.
This property has 2 road frontages on Musgrave Road and Norfolk Road. It is zoned Medium Density Housing for development.
Description
Unit 1 : Double storey Unit
Size: 237 sqm
. Features:
1. Renovated unit
2. 4 bedrooms
3. 3 en-suite bathrooms (MES = Main En-Suite)
4. 2 additional general bathrooms
5. Built-in cupboards (BIC's) in all bedrooms
6. Modern fully fitted kitchen
7. Double garage
8. Parking for 4 other cars
9. Outside one-bedroom flatlet with MES and kitchen
10. Small garden area
Unit 2 : • Size: 446 sq. mt in total over 3 levels
• Features:
1. Modern 3-level unit
2. Penthouse with 3 bedrooms and 2 bathrooms
3. Fully fitted kitchen in the penthouse
4. Lounge and dining room in the penthouse
5. Second unit with 2 bedrooms and 2 bathrooms
6. Third unit with 2 bedrooms and 2 bathrooms
7. Parking for 6 cars
8. Nice city views and sea views with balconies
9. All units are fully tenanted with high rental income
10. No levy, only rates to be paid
11. Perfect for an extended family or as an investment property
Additional Information:
1. Both units are sold as one complete house.
2. Total size for Unit 2 is 446 sqm, indicating it comprises multiple separate units.
3. Unit 2 offers balconies with city and sea views, making it attractive for tenants.
4. The properties are fully tenanted, ensuring a high rental income potential.
5. Unit 1 seems more suited for a single family with its size and configuration,
while Unit 2 offers flexibility with multiple units and parking spaces.
These properties appear to be a lucrative investment opportunity, especially with the rental income and the potential for use by an extended family or as separate rental units.
Developers can demolish the buildings and build a drive up apartment block on this prime land.
Features
Interior
Bedrooms
11
Bathrooms
10
Kitchens
1
Reception Rooms
2
Exterior
Garages
4
Carports / Parkings
6
Flatlet
1
Sizes
Floor Size
674m²
Land Size
847m²
Musgrave, Durban
Durban has an interesting history, Vasco da Gama’s passing in 1497, Lieutenant Farewell and Shaka. In 1823 Farewell took part in a British expedition to Natal and then decided to start a settlement there. He persuaded 25 other British colonists to join him, and in June 1824 he built the first houses. Only four of these original settlers remained with him. In July 1824 he visited Shaka from whom he received a...
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Disclaimer: While every effort will be made to ensure that the information contained within the Wakefields Estate Agents website is accurate and up to date, Wakefields Estate Agents makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.
