Established student hosting business in a Historical double volume house in Observatory with beautiful mountain views. With a potential annual rental income exceeding R500k, this property stands as a premier choice for investors seeking a reliable and profitable venture in student housing.
Presenting the iconic and distinguished multi-unit residence prominently serving the student community for over two decades. Nestled in the vibrant Observatory area, this property annually accommodates 20 plus students, making it a cornerstone of student life near major educational institutions like UCT and CPUT.
The property is well-appointed with all the necessary features to maintain its class and functionality. It includes potential accommodations for 25 students, features four shower-equipped bathrooms, three spacious kitchens, and a communal lounge that opens to a wooden deck with inspiring mountain views framed by aluminium sliding windows.
Additional highlights include: - A main residence with three bedrooms, each boasting bay windows, solid wood ceilings, and floors, built-in closets, and an ensuite plus a guest bathroom. - A fully equipped flat that includes a bathroom and kitchen with modern appliances. - A double garage with full tiling, seamlessly connected to the main house. - An upper floor accessible via a staircase, leading to a balcony with a safety gate. - Furniture in student accommodation included.
This property not only promises a stable financial return but also provides a full suite of amenities to ensure a comfortable and appealing living environment for its residents, including Wi-Fi, a borehole water system, and comprehensive security measures like CCTV and remote-controlled access systems.
This investment opportunity comes with longstanding tenant relationships and consistent yearly contract renewals, offering a hassle-free business venture. Its strategic location along the Jammie Shuttle Service ensures easy access to convenience shops, amenities, and transportation, enhancing its appeal as ideal student accommodation.
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