Situated a mere 3 kms from the University of the Western Cape and CPUT this property offers a massive return on investment in terms of rental income. The property is in walking distance from Erica Square (Shopping Center). This small neighborhood showcases many upmarket houses.
The property consists of 6 units:
5 units with two bedrooms, separate entrance, kitchenette and bathroom.
1 Bachelors with separate entrance, en suite, lounge and kitchenette.
The yard provides sufficient enclosed parking space. The property does need some attention however enables you to set the standard in terms of features, fittings and ultimately the overall price per tenant. What you put in you will definitely get out.
There are three (3/6) current rental agreements in place expiring the end of November; grossing of R11 300 per month. This provides you with enough time to renovate to capitalize on the student market. The potential rental income is R22 000-R40 000 per month. The property provides a prime opportunity for investors and smart buyers that know a good deal when they see one. Live in one of the units while your bond gets paid off by tenants.
↧