18 Bedroom house for auction in Observatory, Cape Town

R8,495,000
  1. 18
  2. 6
  3. 1
  4. Web Ref: 1069093
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Property Features

ERF Size 235 m²
Rates R1,100

Interior Features

18 Bedrooms
2 Dining Rooms
1 Store Room
Security
6 Bathrooms
2 Lounges
1 Flatlet
Kitchen

Exterior Features

1 Garage
Balcony
Views

Going on Auction: Wednesday 25 November 2020

Going on Auction: Wednesday 25 November 2020
Reserve Price: R10 mil All offers will be reviewed)
Expected opening bid: R8 495 000.00
(10% Commission plus VAT over and above bid amount)

This property has four separate dwelling units.
* A three-bedroom main house with two bathrooms (one of which is en-suite) and a separate maid’s quarters.
* A two-bedroom unit with a kitchen and bathroom.
* A four-bedroom student dwelling with a communal kitchen, bathroom with shower, and a storage room.
* An eight-bedroom student dwelling with a communal kitchen and lounge area, two bathrooms with showers, and storage space. Each student room has BIC’s, a desk, and a bed.

Every other room on the property also has BIC’s and all four kitchens are fully fitted. Student dwellings have their own separate water and electricity meters. The property also fitted with CCTV cameras and boasts an entertainment area with mountain views and glass sliding doors which allows the space to maximize the natural lighting.

Total of 18 Rooms with a potential rental income of R85k - R90k per month with current lease expiring end December 2020. Zoning rights also allow for the premises to operate as a Guesthouse or B&B.

Rawson Auctions (Southern Region) are obligated by law to market the property at the Reserve Price as listed herein. A "Reserve Price" is a minimum Rand amount the Seller will accept as the winning bid, and is not necessarily the property's market value, nor the amount the property is likely to be sold for on the day of the auction.

Location

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