Property features

R29 000 000

Property Details

FULLY tenanted Prime Residential Property FULLY TENANTED Prime Residential Property in South Beach, Durban, WITH Amazing Student Accommodation Conversion Opportunity!!! VERY MOTIVATED SELLER. The property, with sea views, boasts 86 residential units as well as 230sq of newly renovated retail space. With a gross monthly rental of R437 374 (or R413 989 with a 5% vacancy allowance) and 7% escalations being achieved, this brilliant asset is not to be missed! This property has also been earmarked as a prime student residential conversion opportunity! Easy conversion and ideally located. The seller is happy to assist with the conversion process and student management if required. Located on a busy street with high foot traffic and close to great amenities such as the Wheel Shopping Centre. The residential and retail components are comprised of the following: 43 smaller 1 bed units 43 larger 1 bed units 1 retail unit Summary: GLA: 4 469 Price: R29 000 000 or nearest offer! 43 smaller 1 bed units 43 larger 1 bed units 1 retail unit