8 Bedroom House in Pelham

Situated within Hampstead Park estate in Pietermaritzburg, this furnished, income-generating property presents an exciting opportunity for investors looking to expand their portfolio with an established shared-accommodation rental operation.

With eight bedrooms in the main residence and two additional bachelor units, the property currently generates R35,500 in monthly rental income equivalent to R426,000 per annum before expenses.

At the asking price of R2,950,000, this translates to an approximate 14.44 gross annual rental yield, based on the current rental figures.

And theres more to appreciate than just the numbers.

TEN RENTAL SPACES. MULTIPLE INCOME STREAMS. EXISTING TENANTS.

The main residence comprises eight bedrooms, with current monthly rentals structured as follows:

One bedroom at R3,000

Seven bedrooms at R3,500 each

Two separate bachelor units provide an additional R8,000 in combined monthly rental income, currently generating R4,000 each.

The existing tenants are young professionals who are happy to remain, offering a prospective purchaser the opportunity to take over an established rental operation, subject to the applicable lease arrangements.

FURNISHED, EQUIPPED AND READY FOR ITS NEXT OWNER

Measuring approximately 206 m2 under roof, the property is furnished and equipped for shared living. Features include:

Eight bedrooms in the main residence

Two additional bachelor units

Separate male and female bathrooms

A communal lounge with the existing lounge suite included

Access to a communal pool area

Fibre connectivity

Stove, washing machine, two fridges and a freezer included

Four allocated parking spaces

A PRACTICAL LOCATION

Positioned within Hampstead Park estate, the property enjoys convenient proximity to Maritzburg College and a nearby police station, making it well placed for tenants seeking accessible accommodation in Pietermaritzburg.

THE INVESTMENT AT A GLANCE

Asking price: R2,950,000

Current gross monthly rental: R35,500

Current gross annual rental: R426,000

Indicative gross rental yield: 14.44

Whether youre growing an existing property portfolio or looking for an income-producing asset with established tenants, this is an opportunity to consider.

Contact Harcourts Hilton your local property experts and leading real estate team.