About this property

Prime Location | 10 Spacious Bedrooms | 11 Months' Rental Income | Excellent Investment Potential If location, income and future growth potential are what you are looking for, this exceptional student accommodation property deserves your attention! Situated less than 1 km from the University and within easy walking distance of the University entrance, this well-positioned property offers an excellent opportunity for investors looking for an established student accommodation property with significant potential to increase the income even further. The attractive face-brick building is low-maintenance and positioned on an exceptionally large erf, offering plenty of space and exciting possibilities for future development. THE ACCOMMODATION The property offers 10 spacious bedrooms, all comfortably sized and ideally suited to student accommodation. Even more exciting is the fact that 6 of the 10 bedrooms can easily be converted into double rooms, creating the potential for additional rental income. The spacious living areas create a warm, welcoming atmosphere and provide students with comfortable communal spaces to relax and socialize. From the living area, sliding doors open onto a bright blue swimming pool and spacious garden, creating a wonderful outdoor area where students can unwind, entertain and enjoy their free time. The large kitchen provides ample space for students to prepare their own meals, while a fully equipped laundry is available for their convenience. EXCELLENT DEVELOPMENT & INCOME POTENTIAL This is where the property becomes particularly attractive to the astute investor. The very large erf provides sufficient space to construct a second dwelling/unit, subject to the necessary municipal approvals, creating an opportunity for an additional income stream. The double garage could also potentially be converted into two separate apartments, subject to the necessary approvals, further increasing the property's rental potential. Combined with the possibility of converting six bedrooms into double rooms, the opportunities to increase the current rental income are substantial. CURRENT RENTAL INCOME The property currently generates R39,760 per month in rental income from 10 privately paying students. A major advantage is that the property generates rental income for 11 months of the year, rather than the more common 10-month rental period associated with many student accommodation properties. This provides the investor with an additional month of rental income every year, strengthening the overall return on investment. CURRENT MONTHLY EXPENSES Expense Monthly Amount KPA Student Accommodation Management R4,572.40 Rates & Taxes R3,306.00 Garden Services R1,200.00 Domestic Worker R1,600.00 Insurance R600.00 Wi-Fi R1,000.00 Total Expenses R12,278.40 net monthly income: r27,481.60 The student accommodation is professionally managed by KPA, which handles the accommodation arrangements for the 10 privately paying students. Students each receive an allowance of R500 per month towards electricity consumption from the available funds. The property also has prepaid electricity and prepaid water, as well as Wi-Fi for student use. A domestic worker attends to the property twice a week, while a gardener keeps the grounds neat and well maintained. SECURITY Student safety is well catered for. The entire property is securely enclosed and features: Electric motorized entrance gate Burglar bars on windows Security gates Security lighting Fully enclosed premises OUTDOOR & PARKING FACILITIES On the western side of the property are two large carports, comfortably accommodating 4 or more vehicles. These covered areas can also serve as additional outdoor entertainment and socializing spaces for the students. AN INVESTMENT WITH ROOM TO GROW This property offers far more than just existing rental income. It combines a prime student-accommodation location, spacious accommodation, established income, excellent security and substantial expansion possibilities. With 11 months of rental income, the potential to accommodate additional students through double rooms, the possibility of converting the double garage into two apartments, and enough space for a further dwelling, this property offers the astute investor multiple avenues to increase future income. Whether you are looking for an income-generating investment or an opportunity to expand an existing student accommodation portfolio, this property offers exciting potential. Turn this exceptional investment opportunity into your dream property. Contact me today to arrange your private viewing!