This NSFAS-approved student accommodation property presents an excellent value-add opportunity for an investor or operator. The property is currently not occupied by students and requires some attention and refurbishment. There are a number of existing tenants in occupation, with several vacant rooms already available and ready to accommodate students.
The property is already listed on the NSFAS portal and is correctly zoned for student accommodation and guest house use.
Ideally positioned on the East London beachfront, the property enjoys breathtaking sea views and offers the potential to become an iconic student residence or private accommodation facility.
NSFAS Grade B Income Potential
50 Beds
Total Potential Income: R226,000 per month
Property Features:
Triple-storey building
25 rooms
10 bathrooms
3 large kitchens
4 communal lounges
Conference room
Outside lapa and communal entertainment area
Most rooms have either private bathroom facilities or access to shared bathrooms, providing flexibility for a range of accommodation options.
Please note that the selling price is exclusive of VAT.