fbpx
House  
For Sale

10 Somerset Street

10 Somerset Street, Grahamstown 6139
Central
R 1 995 000
6
2
Land Size:
535m2
Building Size:
350m2

🏡Find Your Perfect Home Sweet Home - Luxury Living Awaits!🏡

This six-bedroom historical home, set on Somerset Street, which can be traced back to 1863, is about as close 2 the Rhodes University campus as you can get. The front section of the property is double storey and there is an addition at the back, which is dated about 1850, that provides an extra 2 rooms in addition to the 4 in the double storey section.

The building is approximately 350 square meters in size, making it spacious for student accommodation. The rooms are all a good size with high ceilings and the building has been NSFAS-accredited by the university. There is still a lot of yellow wood evident, giving the property a great deal of character. Many of the floors have been sanded and sealed, making the rooms feel warm and welcoming.

This property can comfortably accommodate 6 students and currently has five students in residence, but it will also work very well as office premises for a legal or medical practice. However, there is no off-street parking available.

Financially, this is currently a good investment as it is almost full (leases until 30 November) and is generating a net income of over R90,000 p.a..

The asking price is R 1 995 000 And the gross rent is R173 000, giving an ROI of 4.73%. with the new leases coming in on 1 December, the ROI can be dramatically improved, to about 7.2%. This does not include the increase in the value of the building with time.

This is a building that is still in remarkably good condition and will suit either the savvy investor or professional people looking for an office with character. I strongly recommend that you look at this property before it is sold.

Don’t miss out on this dream home – your future starts here!✨

Agent

Features

  • Alarm System
  • Built-In Cupboards
  • Fireplace
  • Garden
  • Outside Braai
  • Water

Other Properties by Stephen Birt

4 West Oak

House  |
West Hill
Price: 
R995 000
VIEW PROPERTY

20 Somerset Street

House  |
Central
Price: 
RR 1 995 000
VIEW PROPERTY

10 Somerset Street

House  |
Central
Price: 
RR 1 995 000
VIEW PROPERTY

21 Henry Street

House  |
Oatlands North
Price: 
R1 595 000
VIEW PROPERTY

4 Langholm

House  |
Central
Price: 
R1080000
VIEW PROPERTY

52B Albany Road

House  |
Kingswood
Price: 
R385 000
VIEW PROPERTY

Salon Tippin

Commercial  |
Central
Price: 
R565 000
VIEW PROPERTY

308 Allen Place

Flat  |
Central
Price: 
R664 000
VIEW PROPERTY

3 Ellenor Court

Flat  |
Central
Price: 
R690 000
VIEW PROPERTY

10 Southey Street

House |   |
Kingswood
Price: 
R450 000
VIEW PROPERTY

29 Hill Street

Flat  |
Central
Price: 
R3 500 000
VIEW PROPERTY

8 Epworth

Flat |   |
Sunnyside
Price: 
R689 000
VIEW PROPERTY

THE HOTEL VICTORIA MEWS

Commercial  |
Central
Price: 
ROffers From R5 000 000
VIEW PROPERTY

Extension 6 (Kings Flats)

Flat  |
Central
Price: 
RR1 175 000
VIEW PROPERTY

Unit 1, Inahoff, Beaufort Street

Flat  |
Sunnyside
Price: 
RR645 000
VIEW PROPERTY

15 Belmont Valley Road

House  |
Central
Price: 
RR1 280 000
VIEW PROPERTY

10 African Lodge

Flat  |
Central
Price: 
RR420 000
VIEW PROPERTY

Units 10, 19 & 20, Somerset Corner

Flat  |
Central
Price: 
R3 Flats, individually: R675 000 each or 3 Flats, Collectively: R1950 000 (R650 000 each)
VIEW PROPERTY

5 Epworth Court

Flat  |
Sunnyside
Price: 
RR 849 000
VIEW PROPERTY

26 Somerset

House  |
Central
Price: 
RR 1 995 000
VIEW PROPERTY

5A Lawrence Street

House  |
Fort England
Rent: 
R4600
per month
Available From: 
01 December 2024
VIEW PROPERTY

Fox Young Lane

House  |
West Hill
Rent: 
R 3860
per room per month
Available From: 
01 December 2024
VIEW PROPERTY

7 George Street

House  |
Sunnyside
Rent: 
R9200
per month
Available From: 
1 December 2023
VIEW PROPERTY

13 Epworth Court

Apartment  |
Sunnyside
Rent: 
R4305
per room per month
Available From: 
1 December 2023
VIEW PROPERTY

26 Somerset Street

House  |
Central
Rent: 
R4095
per room per month
Available From: 
01 December 204
VIEW PROPERTY

Under the Oak

House  |
West Hill
Rent: 
R 9 000
per month
Available From: 
1 December 2023
VIEW PROPERTY

The Greens

Apartment  |
Central
Rent: 
R 4350
per room per month
Available From: 
1 December 2023
VIEW PROPERTY

5 African Lodge

Apartment  |
West Hill
Rent: 
5000
per month
Available From: 
01 December 2024
VIEW PROPERTY

3 Spring Street

Apartment  |
Central
Rent: 
R 3 700
per month
Available From: 
1 December 2023
VIEW PROPERTY

Little Rose

Apartment  |
West Hill
Rent: 
7000
per month
Available From: 
01 December 2023
VIEW PROPERTY

Makana Lodge

Apartment  |
Sunnyside
Rent: 
R 4 410
per month
Available From: 
01 December 2023
VIEW PROPERTY

3 Spring Street

Apartment  |
Central
Rent: 
from R 3 600
per month
Available From: 
1 December 2023
VIEW PROPERTY

Somerset Corner

Apartment  |
West Hill
Rent: 
R 4 700
per room per month
Available From: 
01 December 2023
VIEW PROPERTY

Summerplace

Apartment  |
West Hill
Rent: 
R 4283
per room per month
Available From: 
1 December 2023
VIEW PROPERTY

Makana House

House  |
Sunnyside
Rent: 
R3858
per room per month
Available From: 
01 December 2023
VIEW PROPERTY

Under the Oak

Apartment  |
West Hill
Rent: 
R 8 500
per month
Available From: 
1 December 2023
VIEW PROPERTY

5 Epworth Court

Apartment  |
Sunnyside
Rent: 
4410
per person per month
Available From: 
1 December 2024
VIEW PROPERTY

24 Aquitaine Way

Apartment  |
Central
Rent: 
4200
per person per month
Available From: 
01 December 2024
VIEW PROPERTY

Ellenor Court

Apartment  |
Central
Rent: 
R3969
per room per month
Available From: 
1 December 2023
VIEW PROPERTY

African Lodge

Apartment  |
West Hill
Rent: 
R4520
per month
Available From: 
1 December 2023
VIEW PROPERTY

8 Sweetwaters Estate

House  |
Oatlands North
Rent: 
R9950
per month
Available From: 
1 December 2024
VIEW PROPERTY

5A Lawrence Street

Apartment  |
Fort England
Rent: 
R 4 600
per month
Available From: 
01 December 2023
VIEW PROPERTY

Erma Court

Apartment  |
Sunnyside
Rent: 
R9084
per month
Available From: 
1 December 2023
VIEW PROPERTY

New Holland

Apartment  |
West Hill
Rent: 
R7500
per month
Available From: 
1 December 2023
VIEW PROPERTY

Tintagel

Apartment  |
Central
Rent: 
From R3700
per room per month
Available From: 
1 December 2023
VIEW PROPERTY

Spring Street

House  |
Central
Rent: 
R 3 820
per room per month
Available From: 
01 December 2023
VIEW PROPERTY

Gowie Place

Apartment  |
Sunnyside
Rent: 
R3500
per room per month
Available From: 
01 December 2023
VIEW PROPERTY

Tintagel

Apartment  |
Central
Rent: 
R 4 300
per room per month
Available From: 
1 December 2023
VIEW PROPERTY

1 Fox Young Lane

House  |
West Hill
Rent: 
R 3 860
per room per month
Available From: 
01 December 2023
VIEW PROPERTY

Epworth Court

Apartment  |
Sunnyside
Rent: 
R 5 500
per month
Available From: 
1 December 2024
VIEW PROPERTY

1 Fox Young Lane

House  |
West Hill
Rent: 
R 3858
per room per month
Available From: 
1 December 2023
VIEW PROPERTY

24 Southey Street

House  |
Kingswood
Rent: 
R4500
per month
Available From: 
1 September 2024
VIEW PROPERTY

Makana Lodge

Apartment  |
Sunnyside
Rent: 
5250
per month
Available From: 
1 December 2024
VIEW PROPERTY
© Copyright 2020 - Grahamstown Properties - All Rights Reserved
envelopephone-handsetmap-marker
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram