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
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