Guest House for sale in Rosebank, Cape Town

Student accomodation for sale in Rosebank

• Newly built student development comprising:
o 2 x 5 bedroomed units each with modern kitchen and 2 bathrooms
o 3 x self contained flatlets with bathroom and kitchens
o Various common areas
• Modern, high end finishes
• Each room fitted with built in cupboards, desk, chairs and bed
• Property fully furnished with new furniture and appliances
• Excellent position, close to Baxter Theater and walking distance to UCT
• The entire development is managed by a specialist student housing management company. Leasing, maintenance
and all aspects of the building management is handled by the management company
• High demand for the units and very low vacancy

• Net yield at asking price is 9%, after all expenses, maintenance, insurance and management fees.
• Possible to ZERO Rate the VAT on the sale if the purchaser is a VAT vendor,
reducing the Gross price to R6 521 000 and increasing the yield to 10,2%
• Gross Annual income: R897 000. Net annual income after all expenses is R667 000
• Full breakdown of income an expenditure on request
• Current owner will take a head lease on the building until January 2024 if required

• Asking Price: R7 800 000 VAT INCLUSIVE (No Transfer Duty)

• Viewing on request.