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R2,150,000

40 ALBANY ROAD

Monthly Bond Repayment R22,928.24
Calculated over 20 years at 11.5% with no deposit. Change Assumptions

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INCOME GENERATING RESIDENCE WITH TREMENDOUS POTENTIAL

A remarkable nine-bedroom, eight-bathroom property poised for versatile utilisation as a professional establishment or a lucrative rental investment. Comprising nine bedrooms and eight bathrooms in total, this residence offers multifaceted opportunities.
The upper level of the main house encompasses four distinct flatlets, each self-contained and featuring an open-plan layout comprising a lounge, bedroom, bathroom, and kitchenette. Sliding doors lead onto an expansive shared patio, affording scenic views of the swimming pool. Interconnected doors facilitate the creation of larger integrated spaces as desired.
On the lower level, a three-bedroom unit with two bathrooms, a lounge, kitchen, and an adaptable space presently utilised as a 'man-cave', but suitable for conversion into an additional bedroom or dining area, awaits. This section can function autonomously and boasts a charming veranda extending the length of the house, overlooking the pool.
Behind the main structure, two supplementary units with private entrances offer convenience and privacy, each featuring a bedsitter, kitchenette, and bathroom equipped with toilet, basin, and shower. Currently occupied by tenants, these units contribute to the property's rental income stream.
Parking amenities include a single garage, a spacious carport, and ample yard space for additional vehicles.
With current rental earnings averaging R 30,000, there exists substantial potential to enhance rental returns through property enhancements. This presents an enticing opportunity for investment, either as a self-sustaining asset or as a primary residence supplemented by rental income or Airbnb hosting.
Don't miss the chance to explore this versatile property firsthand. Contact us today to schedule a viewing.

Features

9
8
1
Interior
Bedrooms
9
Bathrooms
8
Kitchens
1
Reception Rooms
2
Exterior
Garages
1
Carports / Parkings
3
Security
Yes
Flatlet
2
Pool
Yes
Sizes
Land Size
1,083m²

East Bank, Port Alfred

If you're looking to trade the hustle and bustle of city living for tranquil coastal living, you'll find the perfect location in East Bank. This is a popular suburb in Port Alfred known for its picturesque views. Every day, you can be greeted by the sights of Port Alfred town, the Kowie River, the Royal Alfred Marina, and the vast expanse of the Indian Ocean.  East Bank Beach, just a stone's throw away, beckons...
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Disclaimer: While every representation will be made by Lew Geffen Sotheby's International Realty to ensure that the information contained within the website is accurate and up to date, 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.

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Transfer Costs

Natural Persons Legal Persons
Transfer Fees
Deeds Office Levy
Transfer Duty
Postage and Petties:
Rates/Levy Clearance
Pro-Rata Rates/Levies
Deeds Office Search
Electronic Document Preparation
Vat @ 15%
TOTAL:
Please note: Most banks charge an administration and initiation fee.
Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.

Bond Costs

  Natural Persons
Fees
Deeds Office Levy
Postage and Petties
Bank Electronic Connection Fee
Electronic Document Preparation
Vat 15%
TOTAL:
GRAND TOTAL:

Income

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Expenses

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%
Joint Total Income
Joint Total Expenses
Joint Available Income
 

MONTHLY REPAYMENTS

 

LOAN AVAILABLE

R
%

Monthly Payment

22,928.24

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