R 3 900 000 | 5 bed property for sale in ferndale

This unique property consists of two panhandle properties, with entrances on two adjacent streets, that were consolidated and the wall in between removed. The landscaped fairy-tale garden with koi pond and large trees is situated between the two houses. The property has been rezoned to residential 2, with rights granted for up to 7x units to be built. The property can be kept as is (2x houses and 1x flatlet), developed into a 7-unit complex, or it can be split back into its two original separate parts (2x houses, each with its own entrance and street address). The first house is located on Long Ave, and it consists of a 3 bed, 2 bath house, with double garage, swimming pool, borehole, koi pond and 1 bed flatlet attached to the house on the garage side, as well as a small work-from-home study/office attached to the garage and flatlet. The master bedroom fits a king size bed, and also a dresser with a walk-in closet. The second bedroom currently has a queen size bed but easily fits two single beds, and the third bedroom has a single bed and desk. All bedrooms have ample built-in cupboards. The master bedroom en-suite has a bath, with a shower in the bath. The two other bedrooms share a modern bathroom with shower. The lounge and dining room have under floor heating and an aircon. The house has both an electric geyser and a gas geyser, and a gas stove in the kitchen. There is also a separate scullery area off of the kitchen which has space for 3x appliances, which exits to an outside braai area under the willow tree. The tenants in this house are currently paying R15,000 per month The attached flatlet is very modern with granite tops in the kitchen, gas stove and gas geyser. t is currently tenanted and the tenant pays R6000 per month. The flat has been on AirBnB from time to time (in between long-term tenants) and has a 4.75-star (out of 5) The second house is located on West ave, and it consists of 2 bed, 1,5 bath house, open-plan lounge/dining/kitchen and double carport. The kitchen has a gas stove. This house is currently tenanted and brings in R10,000 per month. ----- The total current rental income is therefore R31,000pm. The tenants can stay on if the new owner wishes, or vacant occupation can be given on transfer (all leases include a 2 month notiaccommodation Unique features • Fairytale landscaped garden with borehole, rainwater tank, irrigation system and a koi pond made out of the natural rock on the property. • The property has been rezoned to Residential 2, with provision for 7 units in total (a density of 20 units per hectare). Each side has its own entrance and own street address. The existing houses are positioned such that you could keep them as is and incorporate them into your development. The immediately adjacent property has just been rezoned to Residential 3, 20 units (a density of 50 units per hectare). Theoretically, this property could also apply for similar rights. • Large storage shed with electricity, this could potentially be habitable, although some upgrades would be necessary. Additional Wendy house with power and ablutions which is used for staff accommodation