3 Bedroom House for sale in Berea

Situated in the heart of vibrant Berea, Johannesburg, directly next to Barnato Primary School, this 495m² property presents an outstanding opportunity for developers and investors looking to unlock strong rental income potential in one of Johannesburg’s consistently high-demand rental corridors. While the main house was partly gutted by fire, the cottage and garage structures remain intact, providing a valuable starting point for redevelopment. The real value lies not in the current improvements, but in the site’s redevelopment potential and its strategic positioning among surrounding multi-storey residential buildings. This is an opportunity for visionary investors to transform a distressed property into a high-yield residential asset tailored to the growing demand for affordable and mid-market accommodation in the area. Development Potential The property is ideally suited for: Bachelor and studio apartments Student accommodation Affordable urban housing Multi-let residential units Based on the stand size and surrounding density trends, the site could potentially accommodate: 12 to 18 residential units (subject to approvals and design configuration) Market-Aligned Rental Projections Current rental trends in Berea indicate the following achievable monthly rentals: Bachelor/studio units: R3,000 – R4,200 Standard 1-bedroom units: R4,500 – R5,800 Modernized or premium micro-units: Up to R6,500 in select cases Estimated Monthly Gross Rental Income Development Scale Conservative Estimate Optimized Estimate 12 units ±R42,000 – R60,000/month ±R72,000/month 18 units ±R63,000 – R90,000/month ±R108,000/month A well-designed development targeting students, young professionals, and workforce accommodation could therefore generate substantial recurring income in a rental node with persistent demand. Estimated Redevelopment Costs (2025 Johannesburg Estimates) Development Type Estimated Cost per m² Estimated Total Project Cost Basic rental development R8,500 – R11,000/m² ±R4.5m – R6.5m Mid-range apartment development R11,000 – R15,000/m² ±R6.5m – R10m Professional fees, approvals & contingencies Add 15%–25% Additional Cost Considerations Demolition and clearing: ±R150,000 – R400,000 Municipal approvals and plans: ±R200,000 – R600,000 Service upgrades and compliance: depending on density Architect, engineer & QS fees: typically 8%–15% of build cost Why This Property Stands Out Prime Berea location Adjacent to a major school Surrounded by established multi-storey developments Strong and proven rental demand Excellent redevelopment upside Ideal for income-producing residential accommodation For developers with foresight, this property offers the chance to reposition a damaged structure into a high-performing residential investment with scalable long-term returns. Opportunities like this are becoming increasingly scarce in Berea’s rapidly densifying property market. Whether you are an experienced developer, rental investor, or visionary entrepreneur, this site offers the perfect canvas to create a profitable residential development in a proven rental hotspot. Don’t miss the chance to unlock the true value of this strategically positioned property. Contact us today to arrange a viewing and explore the development potential firsthand.

Berea, Berea, Johannesburg, Gauteng

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