17 Bedroom Commercial - Student Accommodation on Auction in Observatory

Description

ONLINE AUCTION Bidding Start Time: Wednesday 25 February 2026 @ 09:00 Bidding End Time: Thursday 26 February 2026 @ 14:30 Registration is essential by Monday 23 February 2026. Pre-Auction Offers may be considered. Auction Finance Available. For more information, please contact the listing agent. DESCRIPTION: This prime student accommodation set in the heart of Observatory and close to shopping centre and public transport. Discover the ultimate student living experience with Jammie Shuttle (University Bus) Service nearby. Observatory is known for its vibrant student life, unique culture, restaurants, and proximity to the University of Cape Town (UCT) and Groote Schuur Hospital. There are numerous restaurants and retail shops within walking distance. Sold as going concern ENTRANCE 1 - income ±R 49 500.00 per month • 8 Bedrooms, • 2 Bathrooms • Open plan Kitchen and lounge • Balcony ENTRANCE 2 - income ±R 28 700.00 per month • 4 Bedrooms • 1 Bathrooms • Large lounge area with mountain views, could potentially add another bedroom. • Kitchen Each room has bed, desk, chair and cupboards. ENTRANCE 3 – Potential income – ±R 38 000.00 per month • Owner currently utilizing 3 bedrooms • Can be an additional 6 students • 2 Bathrooms • Kitchen • Big lounge • Garage • Another back bedroom not currently let can be another ±R 5000 p.m Flatlet – (can also be used for a manager) • Open plan kitchen and lounge • 1 Bedroom • 1 Bathroom • Potential rental of ±R 10 000 p.m Extras: • Double garage tiled with direct access into house. • Borehole with 100% drinkable water. • Good security • Great investment with guaranteed income due to shortage of student accommodation • Very central • Potential yield of 11% - 12% INCOME: • Current rental ±R 78 200 – ±R 80 000 per month • Potential rental ±R 126 200 – ±R 130 000 per month EXPENSES: • Water/rate/sewerage ±R4000 pm • Electricity ±R6500 pm • Insurance ±R1200 pm • Internet ±R800 pm • Cleaning ±R1500 pm • Maintenance ±R1000 pm DETAILS: • Erf No: 16056, Cape Town • Erf Size: 235m² PAYMENT TERMS: 2.5% Deposit & 10% Auctioneers fee (excl. VAT on fee); Payable on the fall of the hammer by means of EFT only. Balance payable on transfer. REGISTRATION REQUIREMENTS: To bid at the auction you need to provide a copy of your identity document and current proof of residence (not older than 3 months) as well as a R20,000 refundable registration fee. DISCLAIMER: The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Auctioneers. Bidders must conduct their own investigations prior to bidding.