Description

Accepting offers. Description: TURNKEY STUDENT ACCOMMODATION INVESTMENT! Building consists of, 6 Apartments: • 4 x Three Bedroom apartments +- 62m² • 2 x Two Bedroom apartments +-44m² • 1 Garage and 4 parking bays. Building is sensationalized. Fully occupied rented per room. 16 rooms all together at R 4250 per room as of January 2024. Total gross income- R 68 000 per month. Total Expenses: R 8209 +- 10% RETURN. Excellent ROI for this area. The rentals are well below market price. ZONING: GR4 ERF Extent: 589 m² Tenant mix The tenants are local and up-country students predominantly at UCT. The property is very close to the Jammie shuttle. Upside and opportunity. As it stands, the property is showing an 11% return which is very good for the area. The property is turnkey and easy to run. The rentals are substantially lower than market value. Market value rental for an un-renovated room is +- R 5500 pm. Market value for a renovated rooms are +- R 7500 per month. So, you have options of keeping as is and increasing the rental alternatively renovate and maximize the income exponentially. Opportunity to extend the garage and add a further 3 studio apartments. Don't let this opportunity go by. Give me a call for an exclusive viewing. Details: • Sectional Scheme Name: SS Derodor • Sectional Scheme No: 351/1997 | 744/2007 | 181/2013 • Unit No (Extent): 1 (62m²) | 2 (62m²) | 3 (61m²) | 4 (61m²) | 5 (17m²) (Garage) | 6 (17m²) (Garage) | 7 (17m²) (Garage) | 8 (17m²) (Garage) | 9 (44m²) | 10 (42m²)