44 Bedroom Apartment Block For Sale in Bluff
GREAT INCOME GENERATING INVESTMENT AWAITS YOU
Direct access to Bayhead/main container terminal/Durban harbour/schools and universities
This property comprises of 3 large 3/4 storey block of flats with great view of the harbour.
Block A has 9 units
Block B has 12 units and
Block C has 12 units totaling 33 units.
11 units comprise of 2.5 bedrooms, open plan kitchen/living area, toilet and bath
22 units comprise of 2 bedrooms, open plan kitchen/living area, toilet and shower and a spacious balcony
Secure undercover parking for all tenants
Prepaid electricity and water in each unit
Fully tenanted - immediate income
Low management hassle for prospective buyer
Close proximity to schools, shops, churches, bus route and Durban CBD
Current rental income per unit ranges from R5,500 to R6,500 per month
Lease terms (existing leases are in place)
INVESTORS ALERT
there is a great shortage of student accommodation in Durban for all academic institutions (universities/techs and the like)
Another key factor to consider is to convert each of the 33 units into sectional title hence quick investment return.
Benefits to Investors/Prospective Buyers
Existing tenants could be your new buyer
Once off costs for conversion from lease hold to sectional title
Increased property value
Easier financing - banks are will to provide bonds for sectional title units much easier
Independent ownership - owners receive their title deed
Reduced owner liability - owner liable for levies and bonds only
Better management/maintenance - body corporate controlled
Improved marketability - high demand for lock up and go
Present average selling price for sectional title units of this nature on the Bluff range from R580,000 to R780,000
Units require upgrades as the property is sold as is
Direct access to Bayhead/main container terminal/Durban harbour/schools and universities
This property comprises of 3 large 3/4 storey block of flats with great view of the harbour.
Block A has 9 units
Block B has 12 units and
Block C has 12 units totaling 33 units.
11 units comprise of 2.5 bedrooms, open plan kitchen/living area, toilet and bath
22 units comprise of 2 bedrooms, open plan kitchen/living area, toilet and shower and a spacious balcony
Secure undercover parking for all tenants
Prepaid electricity and water in each unit
Fully tenanted - immediate income
Low management hassle for prospective buyer
Close proximity to schools, shops, churches, bus route and Durban CBD
Current rental income per unit ranges from R5,500 to R6,500 per month
Lease terms (existing leases are in place)
INVESTORS ALERT
there is a great shortage of student accommodation in Durban for all academic institutions (universities/techs and the like)
Another key factor to consider is to convert each of the 33 units into sectional title hence quick investment return.
Benefits to Investors/Prospective Buyers
Existing tenants could be your new buyer
Once off costs for conversion from lease hold to sectional title
Increased property value
Easier financing - banks are will to provide bonds for sectional title units much easier
Independent ownership - owners receive their title deed
Reduced owner liability - owner liable for levies and bonds only
Better management/maintenance - body corporate controlled
Improved marketability - high demand for lock up and go
Present average selling price for sectional title units of this nature on the Bluff range from R580,000 to R780,000
Units require upgrades as the property is sold as is
Monthly Rates
R12,155
Features
Interior
Exterior
Sizes
Disclaimer
While every effort will be made to ensure that the information contained within the Wakefields website is accurate and up to date, Wakefields makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.
