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Capitalize on Melville's lively cafe scene and student demand with this adaptable guesthouse offering pool, solar backup, and capacity for 66 guests—ideal for student housing or wellness conversions.
Exciting Investment Opportunity in Melville!
Discover the potential of this thriving 17 room budget accommodation establishment in the vibrant Melville area of Johannesburg!
Perfect for savvy investors, this property offers diverse revenue streams and comes fully furnished and can be accommodated and used and converted for student accommodation, wellness centre or other business opportunities currently in high demand at moment.
Melville House has a rich history as a backpackers' favorite and has adapted to modern travel needs post-COVID. Spanning 1,468 sqm, it includes two residences and additional structures for double rooms, accommodating up to 66 guests!
Key Features:
- 4 dormitories (35 beds) + 6-sleeper dorm
- 3 family rooms (sleep 4) with en-suite bathrooms
- 6 en-suite double rooms
- 2 kitchens, dining areas, pool, bar, and recreational spaces
- Solar system and backup water tanks
Located near hospitals, the University of Johannesburg, and shopping centers, this guesthouse has significant potential for repurposing into wellness centers, student housing, step down facilities, training centre and more.
The property would need some work or redesign ideas suitable to be repurposed for other income streams
The current owner is shifting focus, making this a prime opportunity! Offers are negotiable.
Grab this opportunity and be a suitable facility for the onset of student enrollment.
For details, viewings, or inquiries, reach out to us today!
* Monthly costs are estimates and should be confirmed with the agent.
Listed for sale at R5,250,000
MyProperty Benchmark Indicator: Data-driven comparison vs similar active properties
Based on 211 listings in Johannesburg (town)
Insight
Priced above the median for similar properties in the area. Floor size is 135% larger than typical for similar homes.
Benchmark uses town-level data where suburb sample size is limited. Premium areas may trade above town averages - check with the agent for local guidance.
Similar properties pricing
Key differences
Market depth
211 similar listings
High similar-home inventory town-wide (Johannesburg)
Median time on market: 121 days
* Insights are based on current active listings (excludes sold data) and may change. This is not a valuation or appraisal. Smart Property Insights Model v1.0
Melville is a vibrant, bohemian suburb known for its historic charm, eclectic nightlife, and close proximity to major universities, making it a popular choice for academics, artists, and young professionals.
* Distances and amenities are approximate.
