7 Bedroom House in Observatory

Versatile Freestanding Property with Development Upside A rare opportunity to acquire a large freestanding property offering immediate rental income together with future development potential. Situated on a generous 794sqm erf and zoned GR2, this versatile asset is currently fully let as student accommodation with 7 individual leases in place, professionally managed by Revo Asset Management.The property combines strong existing cash flow with long-term upside, making it ideal for investors looking to secure a well-positioned income-generating asset in a high-demand rental area.The home is fully enclosed with access via a garage door and pedestrian entrance, leading through a neat landscaped front garden to the welcoming front stoop. Inside, a long passageway connects three spacious bedrooms and a bathroom, while the high ceilings and character features create a sense of charm and space throughout.Towards the rear of the home is a modern kitchen fitted with built-in cupboards, stove, oven and extractor fan. The kitchen flows into a large dining area comfortably accommodating a 6-seater dining table, with double doors opening onto a private paved courtyard.The rear wing of the property offers an additional two bedrooms and second bathroom, while upstairs features two loft-style bedrooms with oversized skylights, beautiful Devils Peak views, a kitchenette, bathroom and study area with a separate entrance. The current configuration lends itself perfectly to multi-tenant accommodation.Externally, the property offers a substantial paved yard with parking for 10 or more vehicles a rare and valuable feature in the area. Show more Show less