UNIT 6 – SS KINGSWOOD MEWS
R595,000 | A clever investment – or a place to call home!

Location, convenience and investment potential all come together in this appealing ground-floor apartment in Kingswood!

Whether you are looking for a smart property investment or a comfortable, conveniently situated home, Unit 6 at SS Kingswood Mews deserves your attention.

Measuring approximately 53m², this two-bedroom apartment is ideally positioned for access to Rhodes University and the surrounding Kingswood area. It is set up for student accommodation and is accredited with Rhodes University, making it an attractive proposition for investors wanting to enter the student rental market.

The apartment has an interesting feature that sets it apart from many of the other units in the complex: one of the bedrooms has an enlarged bathroom incorporating a bath rather than the usual shower. The alteration has created a more spacious bathroom, although it does reduce the size of that bedroom. The appliances appear to be in good condition, giving the prospective purchaser a useful head start.

Being on the ground floor has its advantages. There is easy access and a small veranda providing a welcome outdoor space – ideal for enjoying a morning coffee or simply having somewhere to sit outside. There is also one allocated off-street parking bay.

THE INVESTMENT OPPORTUNITY

The numbers make interesting reading!

Based on an estimated rental of R7,560 per month for 11 months of the year, the projected annual rental income is R83,160. After estimated expenses, the forecast produces net annual income of R59,892, equivalent to approximately R4,991 per month.

At an assumed interest rate of 9.75% over 20 years, that net income could service a bond of approximately R530,000.

At the asking price of R595,000, this offers a first-time investor an opportunity to acquire a property where the rental income could make a substantial contribution towards the bond repayments and running expenses.

OR MAKE IT YOUR OWN HOME!

Not everyone wants to be a landlord. If you are a young professional, a Rhodes University parent looking for accommodation for a student, or simply someone wanting a manageable home in a convenient location, this apartment offers an appealing alternative to renting.

With two bedrooms, a practical layout, a veranda and allocated parking, it is a property that deserves a closer look.

Priced at just R595,000, this is an opportunity worth exploring.

Contact Grahamstown Properties to arrange a viewing. We would love to show you around!

Grahamstown Properties – Your property partner in Makhanda.