HOUSE CONVERTED FOR STUDENT ACCOMODATION – STRONG INCOME POTENTIAL

The property generated over R47,000 per month from Student accommodation!

We Are Pleased to Offer For Sale By Public Auction The Property Situated At:

ERF 3929, 7 MUISVOEL CRESCENT, SEA VIEW, GEORGE, 6529

ID & proof of residence required for registration.

Date: 05 December 2024
Time: 11h00 (Registration from 10h00)
Venue: Onsite
Viewing: By Appointment, or 1hr before the auction

SALE OF A SERIOUS NATURE!

CONTACT

WATCH THE YOUTUBE VIDEO HERE

AUCTIONEER’S NOTE: The property generated over R47,000 per month from Student accommodation!

Get your bidder paddles ready!

The property was previously used as a comfortable 3-bedroom family home and a few years ago was developed into an 8-bedroom, 3-bathroom accommodation property for students. Additionally, when the students are not in occupation (Dec/Jan) the property is offered as an AirBnB property.

This 8-bedroom property provides student accommodation for up to 12 students. With 4 shared rooms in the house. 1 bedroom being ensuite and the other 3 bedrooms sharing a family bathroom. The 4 single rooms are located in what used to be the tunnel garage of the property and these rooms have been created using drywalling. A full bathroom services these 4 rooms.

The back of the garage was also converted into a kitchen and lounge area for some of the students to use. In the house the is a good size full kitchen and open-plan lounge and dining area. An outside covered lapa has also been built.

The property is secure and walled on all sides, with Palisade fencing on the front.

The property is well-maintained and offers a convenient location with easy access to beach road.

This property offers an outstanding opportunity to bidders and if you are either in the student letting game or looking to get in this property is a sure-fire winner.

The current plans for the property are not a 100% reflection of the current property and certain items are not on plan.

Property Features

Land Size: Stand measuring ± 518 m²
Solid Brick and Mortar Home
9 Bedrooms
3 Bathrooms (1 En suite)
Open Plan Lounge Dining Room
Kitchen
Outside Lapa (Covered)
2^nd Kitchen Lounge
Garaging for 1 vehicle
Fully Fenced/walled

Location

This is an ideal location for student accommodation with close proximity to the bus routes. The suburb of Sea View is well established and has a good mix of younger and older residence. The property is conveniently positioned to nearby shops, the bus route and is a 10 min trip to the centre of George. Pacaltsdorp’s property market is very active with strong development and demand for properties this has caused property prices to surge and this trend is expected to continue as good value can still be found in the area.

Auction Terms Summary

Onsite bidder registration to be completed at the property from 1 hour before the Auction.
Online bidding not available for this property.
10% deposit, plus Auctioneer’s Fees, Advertising of R5,000, and Document fee of R1,150 payable on the fall of the hammer.
Auction Subject to Seller’s acceptance.
Full bidder pack with Seller property condition declaration available for download on the website.
Full terms and conditions available for review on request.

ID and Proof of residence required to register.

Subject to change without notice. Right of admission Reserved.