Whether you're looking to get onto the property ladder or add to your investment portfolio, this is an opportunity worth exploring!
Shireen M & Salman Shaik present this neat and cosy studio apartment, ideally situated in the heart of Durban City, overlooking the Durban Yacht Club and Harbour.
Already tenanted, generating a rental income of R5,500 per month, making this an attractive investment opportunity.
THE APARTMENT OFFERS:
Spacious open-plan living area, comfortably accommodating both a bedroom and lounge area. Large windows allowing an abundance of natural light, creating a bright and airy atmosphere. Ample built-in cupboards. Functional kitchen with built-in cupboards, hob and under-counter oven. Bathroom fitted with shower, basin and toilet, with plumbing for a washing machine. The BIG bonus – your own parking bay within the apartment block!
THE EXTRAS:
Secure building with controlled access. 24/7 security. Water included in the levy. Prepaid electricity. Currently tenanted at R5,500 per month.
THE NUMBERS: Purchase price: R550,000
Monthly rental: R5,500
Annual rental income: R66,000
Gross rental yield: 12% per annum (before levies, rates, maintenance and other expenses).
Whether you're looking for a place to call your own or an investment that generates rental income, this Esplanade gem deserves your attention!
YOUR NEST OR YOUR NEXT INVESTMENT?