Development for sale in Observatory, Cape Town

R5,500,000
  1. Web Ref: 1086601
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Property Features

ERF Size 410 m²

Interior Features

10 Flatlets
Kitchen

Exterior Features

2 Parking Spaces
Braai Facilities

Sound Investment Opportunity

The property comprises 10 studio units ranging from 20 - 40 square meters. All units are let with signed lease agreements in place, only expiring in January 2022. Total monthly rental is R57 500.

Current costs:
- Rates: R1 350 per month

- Water: R 900 per month

- Electricity (all tenants have prepaid meters), cost to landlord: R750 - R1250 per month (summer vs winter)

- Approved/Accredited by UCT off campus housing

All units have been recently renovated, minimising any maintenance costs.

Contact the agent

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Block A, 1st Floor Cnr. Timour Hall Road & Gabriel Road, Plumstead

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