Under Offer
Reduced

9 Bedroom house for sale in Morningside, Durban

R2,825,000
  1. 9
  2. 7
  3. Web Ref: 1099486
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Property Features

ERF Size 1,129 m²
Rates R1,200 per month

Interior Features

9 Bedrooms
1 Lounge
7 Bathrooms
Kitchen

Exterior Features

Pool

GREAT INVESTMENT - INCOME GENERATING.

Berea Franchise offers... More and more investors are buying homes in areas close to universities and colleges, and then renting out rooms to students. This is because the competitive monthly room rentals bring in a significantly larger yield in the long run. This type of property is always in demand!
With the current owners relocating, this is your chance to own a property, currently being utilised for student accommodation, in the heart of Morningside Here’s a Bonus: The three bottom units are sold with all existing appliances! Stove, Fridge, Microwave, Beds, Washing Machine, TV, Dining table, coaches, study tables and chairs.
These 3 units alone, currently accommodate 13 students at R2300 monthly rental per student. That’s an income of around R29,900 a month. More than covering a home loan calculated at prime with no deposit!
Upstairs there are 2 well sized units where you can choose to stay in yourself whilst your bond is covered by the rent, or these can be used to accommodate even more students, significantly adding to the monthly income potential.
With a braai area, access to high-speed internet (Fibre), a pool (currently filled with sand), plenty of parking and prepaid water and electricity meters.

For a detailed description of each unit, please see below:
Unit 1-
• 3 bedrooms (1 currently used as a lounge)
• 2 bathrooms (1 En-suite)
• Fitted kitchen.
• Fully tiled

Unit 2-
• 1 large bedroom
• En-suite bathroom
• Kitchen+ open plan living area

Unit 3
• 2 bedrooms
• 1 bathroom
• Kitchen (open plan lounge)

Unit 4 (upstairs)-
•Beautiful Modern, fitted kitchen with granite tops.
• Furniture NOT included for this unit.
• Lounge with aircon
• Tiled throughout.
• Bedroom 1 - main with BIC & en-suite shower
• Bedroom 2 – with BIC
• Family bathroom with shower

Unit 5 (Upstairs)-
• Open plan Modern Fitted kitchen with granite tops
• Furniture NOT included
• Tiled throughout.
• 1 bedroom - BIC + Aircon
• En-suite bathroom

Location

Contact the agent

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Bond repayment calculator

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*based on purchase price at Prime over 20 years

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