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House  
For Sale

20 Somerset Street

20 Somerset Street, Grahamstown 6139
Central
R 1 995 000
5
2
Land Size:
515m2
Building Size:
334m2

Unmissable Investment Opportunity for Buy-to-Let Investors!

Discover an unparalleled investment opportunity with this stately home, first identified on a map of Makhanda in 1863, now transformed into a prime buy-to-let property. Located at 20 Somerset Street, just 200 meters from Rhodes' Little Theatre, this exquisite double-storey house with a charming cantilevered balcony features 5 spacious bedrooms in the main house and a highly desirable cottage in the garden.

Financial Highlights:

  • Gross Annual Income: At full occupancy, achieve a gross annual income of R238,500 based on a 10-month lease scenario.
  • Expenses: With estimated expenses at 18% of the rent (R42,930), the net rental income per annum is an impressive R195,570.
  • Nett Return on Investment: Based on the asking price of R1,995,000, the estimated nett rental provides a lucrative nett return on investment of 9.8%.
  • Nett Free Cash Flow: Projected to be R16,297 per month, allowing you to service a bond of R1,600,000 over 20 years at 10.75%.

For investors leveraging financing, you’ll need a deposit of approximately R395,000 plus legal expenses. With an investment of R395,000 of your own funds, the return on your investment skyrockets to an incredible 49.37%!

This exceptional property is strategically located near the University, making it a "safe house" investment, one with a very low vacancy rate. Come and explore this remarkable opportunity and review the figures with me. I'm confident you'll be impressed!

Invest wisely—secure your future with this outstanding buy-to-let property today!

Agent

Features

  • Alarm System
  • Built-In Cupboards
  • Garage
  • Outside Braai

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