FULLY tenanted Prime Residential Property

Property Details

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: R19 000 000 negotiable! 43 smaller 1 bed units 43 larger 1 bed units 1 retail unit