House for sale in Athlone Park

This four-unit property is ideally situated on Kingsway, offering scenic upstairs views. The property has been rezoned to Residential 1 and comprises four separate units.

Originally renovated with the intention of establishing a guesthouse, the property was converted into four independent units. The two larger units are separated by a drywall partition at the staircase, which can be removed to create a single, luxurious six-bedroom, six-bathroom residence with two kitchens—ideal for a large family.

There are two primary options to consider:

- For an investor interested in rental income: the current four units generate approximately R43,000 per month.

- For a large family: the two sizeable units can be combined into a single home featuring six bedrooms and six bathrooms, complemented by a one-bedroom granny flat attached to the main house and a separate two-bedroom flat.

Current unit layout:

- Upstairs: a three-bedroom, 3.5-bathroom unit with a spacious open-plan living area extending to a large covered verandah with sea views and a built-in braai. An additional room can serve as a study or bedroom. Rental income is R14,500 per month.

- Downstairs: a three-bedroom, 3.5-bathroom unit with an open-plan kitchen and living area that opens onto a sizable verandah overlooking the swimming pool. The double garage provides access to this unit. Rental income is R14,500 per month.

- Separate one-bedroom, one-bathroom unit located above the garage with an income of R7,000 per month. This unit has a walkway connecting to the main house, making it suitable for a granny flat with easy access.

- Two-bedroom, one-bathroom unit: this is a converted double garage, generating R7,000 per month in rental income. It can be easily reverted to garages if desired.

All units are self-contained with individual entrances, DSTV, pre-paid meters, water meters, and air conditioning. Utilities are billed to tenants, and all units feature high-quality flooring and finishes. Additional property features include:

- A double garage accessible from the main house and five shade net carports providing secure parking for all residents.

- Shared swimming pool and braai area.

- Rainwater collection via JoJo tanks.

Located on a prominent stretch of Kingsway/Andrew Zondo Road near Kingsway Hospital and Galleria shopping center, this property benefits from the region's warm climate and numerous beaches. The area is a popular tourist destination, especially with surfers and during the annual sardine run, attracting many visitors to the beaches.

This exceptional investment opportunity warrants an inspection. Serious offers are encouraged.