Hotel for Sale in Durban Central

Description

Accepting Offers. DESCRIPTION: Fantastic property running as student accommodation with Hotel - 5 years accredited student accommodation by NSFAS. • Partially tenanted to 72 beds - students of Durban University of Technology (DUT) @ NSFAS rate @ ±R4500 per student/bed. • Tenanted to 50 private individuals @ ±R4400 per room. • Maximum capacity of 220 beds could generate ±R 990,000 p/month. • About 1250m² of bulk available at potential 3 floors extra on building. • Current income of ±R549,000 p/month or ±R6.55 mil p/annum. • Less expenses of about ±R67,000 p/month or ±R804,000 p/annum. • Nett income of ±R482,000 p/month or ±R5.784 mil p/annum. • The property has a liquor licence as well. Massive Nett ROI of over 25%. DETAILS: • Erf size: 650m² • Zoning: General Residential 5 DISCLAIMER: The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Brokers. Buyers must conduct their own investigations prior to purchasing.