6 bedroom house with Mixed Use Zoning

Ref # 1334575
R3,350,000
Property Details
6 Beds
2 Baths
220m²
293m²

INVESTMENT or LARGE HOME or BUSINESS PREMISES

A spacious 6 bedroom (student investment) property in the sought after neighbourhood of Observatory….

Comprising of 3 large double bedrooms, 3 medium double bedrooms – two with fitted wardrobes and one with a walk in wardrobe.

- 2 bathrooms with basin, shower and toilet each

- 1 lounge

- 1 large - eat in kitchen with plenty of space for multiple persons to use at the same time.

From the kitchen you’ve got access to the private tree shaded courtyard, which is to the rear of the property.

An additional stoep /verandah to the to the front of the property.

- 2 secure parking bays in front of the house. Since this house is a corner property, 2 further ones (tandem) can be accessed from the back.

The home is safe and secure, fully alarmed and has 100/ 100 high speed fibre internet.

The house is currently and has successfully been run as AFDA student accommodation, enjoying full occupancy for the last 10 years…. perfectly positioned within 2 minutes walking distance to AFDA campus.

Generating an annual rentable income of R408,000 (Gross). Monthly R34,000 (Gross).

At present there are 6 lease agreements in place till the 31st Dec 2020.

AFDA was established in 1994. The hugely successful film, television, performance and business institution attracting both local and international students.

Option to purchase the property fully furnished and equipped with the current leases in place. New tenants are almost a guarantee as this house is popular and well-known at Campus.

Alternatively, the house could quite easily make a fantastic large family home even with a work from home space or Office space solely. The property is zoned for MU2, meaning for residential and business purpose, which gives plenty of scope for the creative buyer/ investor.

If you would like a Virtual Tour and 3D floor plan of the property, please feel free to ask and I will gladly forward it to you.

Property Features
Property Type
House
Bedrooms
6
Bathrooms
2
Floor Size
220m²
Erf Size
293m²
Living Area
1
Costs and Terms
Moving costs
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