- 5
- 5
- 289 m2
- 1 450.0 m2
Monthly Costs
Monthly Bond Repayment ZAR .
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Mun. Rates & Taxes: ZAR 1198.00
Property description
Sole and Exclusive Mandate in place.
Prime Investment Opportunity in Walmer: Five Self-Contained Units with Established Rental Income
Calling all Investors, an exceptional opportunity awaits in the desirable suburb of Walmer, Port Elizabeth, over the road for VP High School and a stones throw away from the airport. This unique residential property presents a compelling investment with a proven track record of generating substantial rental income, currently standing at R27,900 per month from existing tenants.
The main house has been thoughtfully renovated and converted into four distinct self-contained units, each offering a private entrance, a comfortable bedroom, a functional kitchenette, and a dedicated bathroom. Complementing these, a single garage has also been ingeniously transformed into an additional self-contained unit, complete with its own bedroom, kitchenette, bathroom, and lounge area. This configuration provides a total of five independent living spaces, each equipped with its own kitchen and ensuite facilities.
Spanning a fully walled erf size of 1450 sqm with an estimated floor area of 289 sqm, the property offers ample space and secure parking. The conversion was executed within the existing structural footprint, ensuring no external additions. While no formal plans are available for the conversion, the property benefits from its prime Walmer location, known for its coastal proximity and vibrant community. The presence of a garden, access gate, and a totally walled perimeter enhances privacy and security.
With all units currently tenanted and consistently producing income, this property represents a ready-to-go investment. Its versatile layout caters to various rental market demands, making it an attractive proposition for those seeking a stable return. Do not miss the chance to acquire this income-generating asset in a sought-after area.
Key Features
- Five self-contained residential units
- Established rental income of R27,900 per month
- Five bedrooms, five bathrooms, five kitchenettes
- Private entrances for each unit
- Desirable Walmer location, Port Elizabeth
- 1450 sqm erf size with Estimated 289 sqm floor area
- Secure parking within the property
- Garden, access gate, and fully walled property
Disclaimer - Information provided is believed to be accurate but is not guaranteed. RE/MAX Independent Properties cannot be held liable for any errors or omissions.
TIADOR 150 CC trading as RE/MAX Independent Properties (Lorraine) operates in terms of a franchise agreement with RE/MAX of Southern Africa.
Property Details
- 5 Bedrooms
- 5 Bathrooms
- 5 Ensuite
Property Features
- Pets Allowed
- Access Gate
- Garden
| Bedrooms | 5 |
| Bathrooms | 5 |
| Floor Area | 289 m2 |
| Erf Size | 1 450.0 m2 |
Contact the Agent
Leigh Horn
Full Status Property Practitioner