Situated within Hampstead Park estate in Pietermaritzburg, this furnished, income-generating property presents an exciting opportunity for investors looking to expand their portfolio with an established shared-accommodation rental operation.
With eight bedrooms in the main residence and two additional bachelor units, the property currently generates R35,500 in monthly rental income — equivalent to R426,000 per annum before expenses.
At the asking price of R2,950,000, this translates to an approximate 14.44% gross annual rental yield, based on the current rental figures.
And there’s more to appreciate than just the numbers.
TEN RENTAL SPACES. MULTIPLE INCOME STREAMS. EXISTING TENANTS.
The main residence comprises eight bedrooms, with current monthly rentals structured as follows:
- One bedroom at R3,000
- Seven bedrooms at R3,500 each
Two separate bachelor units provide an additional R8,000 in combined monthly rental income, currently generating R4,000 each.
The existing tenants are young professionals who are happy to remain, offering a prospective purchaser the opportunity to take over an established rental operation, subject to the applicable lease arrangements.
FURNISHED, EQUIPPED AND READY FOR ITS NEXT OWNER
Measuring approximately 206 m² under roof, the property is furnished and equipped for shared living. Features include:
- Eight bedrooms in the main residence
- Two additional bachelor units
- Separate male and female bathrooms
- A communal lounge with the existing lounge suite included
- Access to a communal pool area
- Fibre connectivity
- Stove, washing machine, two fridges and a freezer included
- Four allocated parking spaces
A PRACTICAL LOCATION
Positioned within Hampstead Park estate, the property enjoys convenient proximity to Maritzburg College and a nearby police station, making it well placed for tenants seeking accessible accommodation in Pietermaritzburg.
THE INVESTMENT AT A GLANCE
Asking price: R2,950,000
Current gross monthly rental: R35,500
Current gross annual rental: R426,000
Indicative gross rental yield: 14.44%
Whether you’re growing an existing property portfolio or looking for an income-producing asset with established tenants, this is an opportunity to consider.
Contact Harcourts Hilton — your local property experts and leading real estate team.