The 350m² property, at 44 Nuttall Road, features a two-bedroomed main house with original wooden floors and the high ceilings characteristic of Observatory houses.
It is fitted with underfloor heating.
The study, lounge and dining rooms could be converted into bedrooms for student accommodation.
Currently the one-bedroom flatlet, with separate entrance, kitchen, lounge, bathroom and prepaid electricity meter, brings in a monthly rental income of R5500.
If the new owners see fit, they could convert the home and granny flat into a large five-bedroom house.
The suburb, which is close to UCT and its medical school, has easy access to the N1, M3, and N2 as well as public transport, says Tanya Jovanovski, franchisee of Rawson Auctions Western Cape.
The house is free-standing, and residents need not worry about load shedding, as the property shares its power line directly with Groote Schuur Hospital.
The property will be sold at Rawson’s offices at 222 Main Road, Rondebosch.
For more details, email [email protected] or call 0824119599 or 0799803457.