Property features

R11 900 000

Property Details

FULLY ACCREDITED STUDENT ACCOMMODATION AVAILABLE!!! Newly renovated student accommodation that has been accredited for 7 years running. The building runs at 100% occupancy (except for last year which is operated at 93% – purely COVID related). Gross Income: R2,68m Gross Expenses: R1.06m Net Annual Income: R1.769m Net Yield at R12.79m: 14.05% (this is inclusive of an R210,000/annum R&M provision!!!) Zero maintenance to be spent (despite the R&M provisions. Comes fully furnished. The sellers are the managing agents and have the systems waxed. They will gladly stay on as managing agents so buying this property is a hassle-free, seamless transaction. The property offers lifestyle facilities such as a TV area, in-house Gym, Wi-Fi, Laundry facilities, Study area, Fully Furnished Kitchens, Parking, DSTV, and On-Site Cleaning. Located conveniently located on High Street, Brixton for any student and is WALKING DISTANCE from the University of Johannesburg and all the surrounding colleges in the area. This accommodation is DIRECTLY opposite Shoprite and close to major surrounding shopping centers such as Campus square, Newtown Junction. Public transport is easily accessible. Sharing rooms are available for R4544 pp.