Discover this impressive 2-storey accommodation block nestled at the base of the Maitland Bridge, located at 57 Montague Road, Maitland. Owned by a single owner since 2012, this property has undergone extensive renovations, transforming the existing 6 apartments and adding two studio apartments, bringing the total to 8 units. Additionally, a caretaker and their family reside in a spacious 3-bedroom 'wendy style' house on the premises, offering potential for additional rental income.
The configuration of the apartments is as follows:Four 3-bedroom apartments accommodating 6 people each, totaling 24 occupants.Two 2-bedroom apartments accommodating 5 people each, totaling 10 occupants.Two studio apartments accommodating 2 people each, totaling 4 occupants. In addition, there is the caretaker's 3-bedroom wendy house.
With a maximum capacity of 38 people, the property offers lucrative rental potential, especially for student accommodation or contract personnel whose rent is covered by corporations. Monthly rental income on a per bed basis, excluding the caretaker house, could reach up to R95,000.00 (@R2500 per bed x 38 beds) for a student mix.
Each apartment is equipped with prepaid electricity and water meters, except for studio apartments 7 & 8, which have electricity and water included in the general council bill. These two units also feature GAS GEYSERS, distinguishing them from the rest of the building with normal water geysers. A fingerprint reader with a turnstile at the front gate adds an extra layer of security. Approximately 4 parking bays are available on the premises.
The tenant mix includes students, contract personnel, and longer-term residential tenants, such as families occupying unit 7 and unit 8. The caretaker and their wife, responsible for maintenance and cleaning of the premises, will vacate upon successful sale, unless requested otherwise by the new owner. Opportunities exist to utilize the caretaker's services for transportation to tertiary education institutions.
The current owners are VAT registered, any sale price would would need to factor in 15% VAT charge, which can be reclaimed by VAT registered buyers. Don't miss this exceptional investment opportunity in Maitland's vibrant property market.
R6,300immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
The current average rental price for a studio in Maitland on ImmoAfrica.net is R 6,300
R191immo · index
The current average rental price per square meter for a studio in Maitland on ImmoAfrica.net is R 191
R778,130immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
The current average sales price for a 2 bedroom property in Maitland on ImmoAfrica.net is R 778,130
R9,925immo · index
The current average sales price per square meter for a 2 bedroom property in Maitland on ImmoAfrica.net is R 9,925
R8,200immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
The current average rental price for a 2 bedroom property in Maitland on ImmoAfrica.net is R 8,200
R148immo · index
The current average rental price per square meter for a 2 bedroom property in Maitland on ImmoAfrica.net is R 148
R566,455immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
The current average sales price for a 1 bedroom property in Maitland on ImmoAfrica.net is R 566,455
R16,417immo · index
The current average sales price per square meter for a 1 bedroom property in Maitland on ImmoAfrica.net is R 16,417
R1,246,875immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
The current average sales price for a 3 bedroom property in Maitland on ImmoAfrica.net is R 1,246,875
R9,294immo · index
The current average sales price per square meter for a 3 bedroom property in Maitland on ImmoAfrica.net is R 9,294
R2,250,000immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
The current average sales price for a 4 bedroom property in Maitland on ImmoAfrica.net is R 2,250,000
R4,151immo · index
The current average sales price per square meter for a 4 bedroom property in Maitland on ImmoAfrica.net is R 4,151
R2,550,000immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
The current average sales price for a 5 bedroom property in Maitland on ImmoAfrica.net is R 2,550,000
R8,019immo · index
The current average sales price per square meter for a 5 bedroom property in Maitland on ImmoAfrica.net is R 8,019
immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
Currently, there is not enough data to give you an estimated price. Please check back soon.
immo · index
Currently, there is not enough data to give you an estimated price. Please check back soon.
immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
Currently, there is not enough data to give you an estimated price. Please check back soon.
immo · index
Currently, there is not enough data to give you an estimated price. Please check back soon.
immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
Currently, there is not enough data to give you an estimated price. Please check back soon.
immo · index
Currently, there is not enough data to give you an estimated price. Please check back soon.
immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
Currently, there is not enough data to give you an estimated price. Please check back soon.
immo · index
Currently, there is not enough data to give you an estimated price. Please check back soon.
immo · index The immo · index is a market indicator that provides insights into the average asking price and rental values in a given suburb. It is derived from listing data provided by estate agents who advertise their properties on ImmoAfrica.net. However, it is important to note that the immo · index is not a substitute for a professional valuation or appraisal. We encourage buyers, renters, sellers, and homeowners to supplement the immo · index with other research, such as visiting the property in person, obtaining a professional valuation, or requesting a comparative market analysis (CMA) from a qualified real estate professional.
Currently, there is not enough data to give you an estimated price. Please check back soon.
immo · index
Currently, there is not enough data to give you an estimated price. Please check back soon.
The interest rate is by default set to the prime lending rate. Banking institutions may choose to lend to individuals at a rate above or below this prime rate.
Fill in your email address, we will send you a link to change your password.
Welcome to ImmoAfrica!
Create a password to continue
Report this property
to ImmoAfrica head office
Cookie preferences
We use cookies and similar technologies on ImmoAfrica to give you the best personalised online
experience. You can change your settings at any time and find out more by visiting our Cookie Policy, which also explains why some cookies, that can't be turned off, are
required to operate our website more effectively.
