8 Apartment cash-cow investment
A rare five-residence investment opportunity in one of Waterkloof Heights’ most established garden settings.**
Behind a leafy entrance, 58 Forbes Reef Road offers five private, fully self-contained homes on a beautifully landscaped 2,005 m² stand: an elegant double-storey Tuscan-style main residence plus four separate residences, all surrounded by lush, established gardens.
This is an established income-producing rental asset, currently generating a conservative income of approximately R60,000 per month, with potential to increase to approximately R80,000 per month. Lease agreements, rental collections and related legal matters are currently administered by the seller’s appointed attorney, providing an organised administrative framework for the rental portfolio.
While the existing configuration also provides potential for a flatlet, this Residential 1 stand has approved rights for Residential 2, subject to prerequisites within two years. Depending on the purchaser’s individual circumstances, the investment may also offer potential tax benefits; independent professional tax advice is recommended.
Main House — 427 m² | 2 Bedrooms | 2 Bathrooms
(Presently rented out as 2 separate 1 bedroom units)
- Double-storey Tuscan-style residence with generous living spaces and warm character
- Two bedrooms, each with an en-suite bathroom, one with a full bathroom and one with a shower
- Main bedroom on the first floor with anthracite fireplace, air-conditioning and door opening onto the porch
- Second bedroom accessible from inside the main house, with a separate rear entrance and kitchenette, offering privacy and flexibility
- Welcoming entrance hall leading to a spacious open-plan lounge and dining area
- Guest toilet
- Fireplace in the lounge
- Full kitchen with serving hatch, double sink, Defy Gemini stove, Cordon Bleu oven and warming oven, with direct access to the outdoor entertainment area
- Double doors from the lounge to the stoep and private entertainment area
- Swimming pool, re-fibreglassed two years ago, jacuzzi room and covered braai area with wash-up sink
- Aluminium windows recently serviced with new braided cords and roller pulleys
- 1 garage and 1 dedicated undercover parking bay
Unit 1 — 107 m² | 2 Bedrooms | 2 Bathrooms
(Presently rented out as two separate 1 bedroom units)
- Private, tucked-away residence with its own entrance and separate rear entrance
- Welcoming foyer
- Two bathrooms, both fitted with showers
- Lounge opening onto porches and a private garden with its own braai area
- Most windows overlook the garden
- Generously sized kitchen plus a separate kitchenette, both equipped with gas stoves
- 1 garage and 1 dedicated undercover parking bay
Unit 2 — 75 m² | 2 Bedrooms | 1 Bathroom
- Positioned in its own separate building for independence and seclusion
- Open-plan lounge flowing into a full kitchen equipped with a gas stove
- Sliding doors from both the lounge and main bedroom directly onto the garden
- Additional sliding door from the lounge to the porch
- Dedicated undercover parking bay beside the entrance to the unit’s garden
Unit 3 — 64 m² | 1 Bedroom | 1 Bathroom
- Privately positioned one-bedroom residence
- Lounge flowing into a full open-plan kitchen equipped with a gas stove
- Bedroom and lounge each with doors opening onto the veranda
- Double doors from the lounge onto the stoep with garden views
- Own garage
Unit 4 — 66 m² | 1 Bedroom | 1 Bathroom
- Modern one-bedroom residence
- Spacious kitchen with gas stove and double sink
- Thoughtfully designed wooden screening creating small, covered planted spaces outside the bedroom and lounge windows
- Own garage
Bachelor Apartment
Domestic quarters is functioning as a beautiful bachelors apartment
Additional Features and Shared Facilities
- Spacious communal laundry with two top-loading washing machines
- Each residence plumbed for its own washing machine, with water inlet and outlet connections, plus a private outdoor washing line
- 17,000 L total water storage: three 5,000 L tanks and one 2,000 L tank
- Portion of water storage connected to a pump system, providing non-potable water during municipal water interruptions — not suitable for drinking
- Solar geysers
- Wi-Fi connectivity
- CCTV cameras at the gate
- Safety gates fitted to all exterior doors
- Additional parking: four undercover bays and two open visitor parking spaces beneath the trees
- Dedicated garden machinery and tool storage room, with garden machinery and tools included in the sale
- Valid electrical Certificates of Compliance (CoCs) in place for all distribution boards (DBs)
- Buildings, roofs and windows well maintained
Why Buy Here?
- Eight established residences on one stand
- Immediate rental income with clear growth potential
- Private, self-contained living in every residence
- Large, established garden in sought-after Waterkloof Heights
- Close to Waterkloof, Val de Sol, Newlands and major routes
The original Res 1 zoning have been rezoned to Res 2 and the seller will be paying all outstanding bulk contributions for the re-zoning.
Behind a leafy entrance, 58 Forbes Reef Road offers five private, fully self-contained homes on a beautifully landscaped 2,005 m² stand: an elegant double-storey Tuscan-style main residence plus four separate residences, all surrounded by lush, established gardens.
This is an established income-producing rental asset, currently generating a conservative income of approximately R60,000 per month, with potential to increase to approximately R80,000 per month. Lease agreements, rental collections and related legal matters are currently administered by the seller’s appointed attorney, providing an organised administrative framework for the rental portfolio.
While the existing configuration also provides potential for a flatlet, this Residential 1 stand has approved rights for Residential 2, subject to prerequisites within two years. Depending on the purchaser’s individual circumstances, the investment may also offer potential tax benefits; independent professional tax advice is recommended.
Main House — 427 m² | 2 Bedrooms | 2 Bathrooms
(Presently rented out as 2 separate 1 bedroom units)
- Double-storey Tuscan-style residence with generous living spaces and warm character
- Two bedrooms, each with an en-suite bathroom, one with a full bathroom and one with a shower
- Main bedroom on the first floor with anthracite fireplace, air-conditioning and door opening onto the porch
- Second bedroom accessible from inside the main house, with a separate rear entrance and kitchenette, offering privacy and flexibility
- Welcoming entrance hall leading to a spacious open-plan lounge and dining area
- Guest toilet
- Fireplace in the lounge
- Full kitchen with serving hatch, double sink, Defy Gemini stove, Cordon Bleu oven and warming oven, with direct access to the outdoor entertainment area
- Double doors from the lounge to the stoep and private entertainment area
- Swimming pool, re-fibreglassed two years ago, jacuzzi room and covered braai area with wash-up sink
- Aluminium windows recently serviced with new braided cords and roller pulleys
- 1 garage and 1 dedicated undercover parking bay
Unit 1 — 107 m² | 2 Bedrooms | 2 Bathrooms
(Presently rented out as two separate 1 bedroom units)
- Private, tucked-away residence with its own entrance and separate rear entrance
- Welcoming foyer
- Two bathrooms, both fitted with showers
- Lounge opening onto porches and a private garden with its own braai area
- Most windows overlook the garden
- Generously sized kitchen plus a separate kitchenette, both equipped with gas stoves
- 1 garage and 1 dedicated undercover parking bay
Unit 2 — 75 m² | 2 Bedrooms | 1 Bathroom
- Positioned in its own separate building for independence and seclusion
- Open-plan lounge flowing into a full kitchen equipped with a gas stove
- Sliding doors from both the lounge and main bedroom directly onto the garden
- Additional sliding door from the lounge to the porch
- Dedicated undercover parking bay beside the entrance to the unit’s garden
Unit 3 — 64 m² | 1 Bedroom | 1 Bathroom
- Privately positioned one-bedroom residence
- Lounge flowing into a full open-plan kitchen equipped with a gas stove
- Bedroom and lounge each with doors opening onto the veranda
- Double doors from the lounge onto the stoep with garden views
- Own garage
Unit 4 — 66 m² | 1 Bedroom | 1 Bathroom
- Modern one-bedroom residence
- Spacious kitchen with gas stove and double sink
- Thoughtfully designed wooden screening creating small, covered planted spaces outside the bedroom and lounge windows
- Own garage
Bachelor Apartment
Domestic quarters is functioning as a beautiful bachelors apartment
Additional Features and Shared Facilities
- Spacious communal laundry with two top-loading washing machines
- Each residence plumbed for its own washing machine, with water inlet and outlet connections, plus a private outdoor washing line
- 17,000 L total water storage: three 5,000 L tanks and one 2,000 L tank
- Portion of water storage connected to a pump system, providing non-potable water during municipal water interruptions — not suitable for drinking
- Solar geysers
- Wi-Fi connectivity
- CCTV cameras at the gate
- Safety gates fitted to all exterior doors
- Additional parking: four undercover bays and two open visitor parking spaces beneath the trees
- Dedicated garden machinery and tool storage room, with garden machinery and tools included in the sale
- Valid electrical Certificates of Compliance (CoCs) in place for all distribution boards (DBs)
- Buildings, roofs and windows well maintained
Why Buy Here?
- Eight established residences on one stand
- Immediate rental income with clear growth potential
- Private, self-contained living in every residence
- Large, established garden in sought-after Waterkloof Heights
- Close to Waterkloof, Val de Sol, Newlands and major routes
The original Res 1 zoning have been rezoned to Res 2 and the seller will be paying all outstanding bulk contributions for the re-zoning.
Features
Zoning
Exterior
Sizes
Parking Bays
Listing Info
Finance
Total Amount Repayable
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Monthly Repayment
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Disclaimer
While every effort will be made to ensure that the information contained within the Harcourts South Africa website is accurate and up to date, Harcourts South Africa 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.