8 Bedroom House On Auction in Sea View

Duly instructed, by the Seller on Sole and Exclusive Instruction, we will offer for sale by Onsite Auction the Immovable Property Situated at:

7 MUISVOEL CRESCENT, SEA VIEW, PACALTSDORP, GEORGE, 6529

HOUSE CONVERTED FOR STUDENT ACCOMODATION – STRONG INCOME POTENTIAL

• Auction Date: 05 December 2024

• Time: 11h00 (Registration from 10h00)

• Venue: Onsite

• Viewing: By Appointment, or 1hr before the auction

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 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.

Key Highlights:

• Land Size: Stand measuring ± 518m²

• Solid Brick and Mortar Home

• 9 Bedrooms

• 3 Bathrooms (1 en suite)

• Open Plan Lounge Dining Room

• Kitchen

• Outside Lapa (Covered)

• 2nd Kitchen Lounge

• Garaging for 1 vehicle

• Fully Fenced/walled

A rare opportunity is not to be missed.

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 is to be completed at the property before the Auction starts.

• 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.

Subject to change without notice. Right of admission Reserved.