Outbuildings of Number 7 Kyle Crescent, located within The Inandas at 58 Rivonia Road, require improvements. Picture: Supplied/ Hammer & Gavel
A partly demolished residential property in one of Sandton’s popular upmarket suburbs, Inanda, is on the market with Park Village Auctions (PVA).
This property, says PVA’s seasoned head auctioneer Clive Lazarus, provides a “golden opportunity to realise a highly profitable flip. Sandton property is a boon,” he says.
“As such, investors are snatching up as much inventory as possible, making it tough to get a foot in the Sandton property market, and Inanda properties are among the most elusive.
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“One should note that Inanda has seen significant price increases over the years, with the average sales price climbing roughly 15% between 2015 and 2022.
“The potential for return on investment on this property with added selling points, such as its locality in an estate accessible from Rivonia Road is huge.”
Lazarus says savvy buyers who know that auctions represent excellent value for money will leap at the chance to acquire this property and offset the savings on renovation costs, enabling a handsome return on investment.
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Number 7 Kyle Crescent, located within The Inandas at 58 Rivonia Road takes the form of a double-storey residential dwelling with outbuildings requiring completion of building improvements and construction work, measuring 884 square metres.
The Inandas is a 24-hour guarded security complex in a quiet suburb and it offers residents access to upmarket shopping malls, an array of excellent government and private schools, medical facilities and the Sandton central business district.
Interested parties are encouraged to book an appointment to view the property and register to bid before the onsite auction at 11am on 7 March.
For more information, please visit web reference 1474 at www.parkvillageauctions.co.za or call 011 789 4375.