480 m² Commercial space in Port Elizabeth Central

SOLE MANDATE

3 X Single Rooms

10 x Double Rooms

23 x Beds

3 x Kitchen

4 x Common Area

5 x Bathrooms including 5 showers

Erf size 798m2

Floor size 480m2

The current zoning is RES3

Rates & Taxes R1520month

This building is situated next door to the PE Central university campus in Central

Ground 2 additional floors for male and female accommodation private students

Fully furnished and equipped kitchen & laundry room

Two spacious TV rooms

Computer & Study area

CCTV Camera

Close to Amenities and Shuttle services to NMBU

Asking Price R2 700 000

Current Rental income R81 000month

Operational expenses R20 000month

Net income R61 000month

Cap Rate 22.63 percent cash purchase

The building has immense potential for the experienced student accommodation operator.

Because the property is not yet registered with NSFAS, you can increase your monthly turnover overnight.

The potential income is as follows

20 double beds R4400 R88 000

3 single beds R4600 R13 800

Total R101 800

Please note this projection is very conservative and without reconfiguring the space to create more beds

Call us today to discuss all options available and secure a private viewing.

The information provided is believed to be true and correct but does not form part of any agreement