5 Bed Dual Living and unmatched space
Exclusive Sole Mandate.
Endless Potential and Rare Space: Dual-Living Wooden Haven Overlooking the Fynbos Greenbelt
5 Bedrooms , Study, 3 Bathrooms, 2 Garages. Floor size 257 sqm on plan. Erf Size 1072 sqm.
Welcome to 5 Slaapplek Street, Herolds Bay and mdashan exceptional investment opportunity loaded with versatility, position, and unmatched space. While most properties in this highly sought-after coastal suburb compromise on yard space, this property boasts a massive 1,072 m and sup2 erf. At nearly double the size of standard neighboring stands, this prime piece of land offers established trees, total privacy, and immense long-term development or expansion potential.
Trading traditional sea views for a tranquil escape, the home directly overlooks a magnificent, untouched Fynbos Greenbelt. It is the ultimate retreat for nature lovers, remote workers, or families looking for peace and quiet while remaining just minutes away from the pristine Herolds Bay beach.
The Property Layout and Features:
This classic, timber-framed home has been meticulously maintained on the outside, featuring beautiful wooden window frames and solid wooden flooring throughout. It is smartly divided into two independent living spaces, offering the perfect setup for dual-family living or a high-yielding Airbnb income stream.
First Floor: The Main Residence 117 sqm 23 sqm Deck
Living Area: A spacious, sunlit open-plan lounge complete with a freestanding fireplace and a dedicated dining area leading onto a wooden deck through slding doors.
The Ultimate Home Office: A large studystudio space featuring massive windows that look directly out onto the breath-taking greenbelt view and mdashideal for remote work or an artist''s studio.
Kitchen: Functional open-plan design layout ready for your personal touch.
Bedrooms and Bathrooms: 3 nicely sized bedrooms with excellent natural light. Includes 1 full family bathroom plus a full main en-suite bathroom for the master bedroom.
Ground Floor: Self-Contained Flatlet 117 sqm
Income Generator: A completely independent flatlet with fantastic potential for short-term holiday letting or multi-generational families.
Living Space: Open-plan lounge and a compact kitchen that seamlessly transitions out onto an enclosed patio on one side, and a charming front entrance stoep on the other.
Bedrooms and Bathroom: 2 spacious bedrooms and a tidy bathroom equipped with a shower, toilet, and basin.
Exterior and Additional Value:
The Garden: A genuinely rare, sprawling garden sanctuary filled with beautiful, established large trees and open lawn. Vechicle entrance on the left side of the property leads to the back yard.
Parking: 2 completely separate garages providing ample secure parking and extra beach-gear storage.
Bonus Storage: A sturdy wooden garden shed tucked away outside.
Agent''s Note and Renovation Potential:
The structural foundation of this timber home is good, the outer wood is well cared for, and the internal wooden floors are in beautiful condition. The property features a traditional asbestos roof, and the interior finishes and wooden stairs are classic and need some TLC and modernization.
Priced competitively at R4.4 Million, this home represents a blank canvas where you can add immediate value through a stylish interior upgrade while sitting on one of the largest parcels of land in the area.
High-quality timber homes built to SANS 10082 standards are functionally sound and structural timber handles sloped coastal ground exceptionally well. Major banks fully finance them.
Asbestos Penalty has already been factored into the selling price of R250,000.Real estate agents and bank valuers treat this using a and quotcost-to-cure and quot deduction. Because the roof will inevitably need to be completely replaced with tiles or corrugated iron sheet metal, the valuation is penalized by the exact estimated cost of professional hazardous removal, safe disposal at designated sites, and installation of a new roof structure which is currently calculated at around R250,000-00
The Valuation Summary
The R4.4 million price tag is well-balanced. The massive land surplus acts as the heavy anchor driving the property''s core asset value up, safely absorbing the financial renovation penalties required to modernize the wooden stairs, upgrade the interiors, and eventually swap out the asbestos roof.
The Valuation Surplus Excess Land
The massive 1,072 sqm erf provides a substantial financial offset. In valuation, land that is significantly larger than the neighbourhood standard is split into and quotFrontageBase Land and quot the standard size needed to host the house and and quotSurplusExcess Land and quot the remaining unused land. Oversized Erf: R800,000 to R1,200,000 Surplus Value.
The Suburb Standard: Most standard erfs in the immediate Herolds Bay residential pockets sit around 500 sqm to 600 sqm. This property''s erf is nearly double that size.
Floor Size Market Comparison R3.5mil plus R1.2mil surplus for large erf R4.7mil minus R250k for asbestos roof minus R50k for fixing of wooden stairs and tlc.
Don''t miss out on this rare Herolds Bay gem. Contact us today to schedule your private viewing.