R2,700,000 | 480m² Apartment Block For Sale in Gqeberha Central

SOLE MANDATE

3 X Single Rooms
10 x Double Rooms
23 x Beds
3 x Kitchen
4 x Common Area
5 x Bathrooms including 5 showers
Erf size 798m2
Floor size 480m2
The current zoning is RES3
Rates & Taxes R1520/month

This building is situated next door to the PE Central university campus in Central
Ground + 2 additional floors for male and female accommodation (private students)
Fully furnished and equipped kitchen & laundry room
Two spacious TV rooms
Computer & Study area
CCTV Camera
Close to Amenities and Shuttle services to NMBU

Asking Price R2 700 000
Current Rental income R81 000/month
Operational expenses R20 000/month
Net income R61 000/month
Cap Rate 22.63 percent (cash purchase)

The building has immense potential for the experienced student accommodation operator.
Because the property is not yet registered with NSFAS, you can increase your monthly turnover overnight.
The potential income is as follows
20 double beds @ R4400 = R88 000
3 single beds @ R4600 = R13 800
Total R101 800

Please note this projection is very conservative and without reconfiguring the space to create more beds
Call us today to discuss all options available and secure a private viewing.

“The information provided is believed to be true and correct but does not form part of any agreement”