R 2 550 000 | 6.0 bed property for sale in observatory

6 Bedroom student accommodation in Observatory. This large property is being utilised as student accommodation for the past 6 years. It has been accredited as a student accommodation by UCT. This classic Victorian has 6 large bedrooms, 2 communal bathrooms containing a bath and shower in one and the other has only a shower. There is a large kitchen, a large lounge with working marble fire place. There is an outside yard with a braai area as well as a separate laundry room. There is a Jojo tank outside for the water wise. The property is fully tenanted and generates R26 000 per month. Long term leases in place and on average achieves ROI 15% per year Generates R26 000 rental monthly R3 850 expenses (Wi-Fi, rates & taxes, water) 9% rental yield 5 % annual capital growth Close to the railway station and transport hubs. Great for students who are studying at UCT, or AFDA. Close to all major shopping centres. E&EO