Verified Listing
Posted on February 24, 2021 / 597
Price : R3,200,000
Listing Type : Commercial Property
Location : Durban
Ref. No : 2703
Expenses : R 11 470 pm
Net Profit : R 22 749 pm
Property Type : Commercial
Erf Size : 1574 m2
Rates & Taxes : R 2 088 pm

Affordable Student Accommodation with swimming pool and entertainment area. The home currently accommodates nine students with further potential to accommodate a further four to five students by converting the area below the pool into accommodation. There is unlimited Wi-Fi and furnished communal areas with good security CCTV monitoring. The property has: 5 x single-occupancy rooms, PLUS 2 x shared double-occupancy rooms, 3 x Communal bathrooms PLUS 3 x rooms en-suite, Maxidor on all windows and doors and Ample Parking.

The property is a short walking distance to a local college campus of which The Residence has become the preferred student accommodation fin the area and is recommended by the college when enrolling students. The Residence has proved to be successfully run and managed remotely with very little on-property time needed. All maintenance services (Garden, pool and cleaning) are done on a weekly basis, and do not require immediate oversight, as bi-monthly inspections are more than adequate along with the CCTV monitoring.

The residence comes as a turn-key operation with all standard operating procedures & administration documents including student house-rules and student application forms. All students are vetted, pay security deposits and sign 12-month leases upon acceptance.

* Morgan Laxton – LP – KZN South Coast