R25,000,000
R25,000,000
Monthly Bond Repayment R253,807.24
Calculated over 20 years at 10.75% with no deposit.
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Student accommodation investment opportunity - new, 11-unit Musgrave block
Dormehl Phalane Musgrave presents something special – the sale of a new, 11-unit block in prime Musgrave’s Currie Road. It is a perfect investment for student accommodation.
This upmarket and stylish property offers nine fully-fitted, two-bedroom, two-bathroom units. It also offers two spacious, double-storey penthouse shells, each measuring 242m² and each offering three bedrooms and two bathrooms.
A big bonus is that the building has already been accredited by NSFAS for a three-year student accommodation contract for 70 students.
The property will need to be fitted out to NSFAS standards and will have the potential to generate a profit of about R257 000 per month. Phase 2 will be the completion of the two penthouse units to accommodate an extra 27 students with a potential return of R360 000 per month.
The building has a KONE lift and security is a high priority, the block offering a security control room, electric fencing and 12 parking bays, some undercover.
The block offers panoramic views and is close to shopping centres, schools, private hospitals, places of worship and public transport routes.
For more details, or to arrange a viewing, please contact Gordon.
Features
Interior
Bedrooms
24
Bathrooms
11
Kitchens
11
Reception Rooms
22
Exterior
Carports / Parkings
13
Security
Yes
Sizes
Land Size
1,200m²
Musgrave, Durban
Durban
Durban is the largest city in the South African province of KwaZulu-Natal and the third largest city in the country, forming part of the eThekwini metropolitan municipality. Durban is famous as the busiest port in South Africa and is also a major centre of tourism because of the city's warm subtropical climate and extensive beaches. Voted as one of the top 10 family beach holiday cities in the...
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Disclaimer: While every effort will be made to ensure that the information contained within the Dormehl Phalane Property Group website is accurate and up to date, Dormehl Phalane Property Group makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.
