18 Bedroom house for auction in Observatory, Cape Town
Web Ref: 1162723
Student Accommodation in Central Observatory
Going on Auction: Wednesday 24 Aug 2022
Reserve Price: P.O.A. (All offers will be reviewed)
Non-refundable 10% commission plus VAT over and above the purchase price to Rawson Auctions on fall of the hammer (Payable by the buyer)
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. 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. The Seller reserves the right to consider all offers.
Monthly repayments will be calculating…
*based on purchase price at Prime over 20 years
Our goal is to sell your property at the right price and in the shortest possible time.
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