Property description

An exceptional investment opportunity in the sought-after suburb of Glenwood, ideally positioned close to major amenities, educational institutions, shopping facilities, medical services and public transport routes.

The property comprises 27 self-contained micro-apartments, providing an established multi-tenanted income stream and the benefit of diversified rental income from multiple occupants.

The units are currently generating R4,770 per unit per month, excluding utilities, producing a current gross rental income of approximately:

R128,790 per month

R1,545,480 per annum

For the investor looking beyond the current income, the property offers an attractive value-add opportunity through student accommodation. Subject to the relevant approvals, compliance requirements and market conditions, the existing accommodation could potentially be repositioned towards the student rental market, with rental potential of approximately R7,000 per unit per month.

At R7,000 per unit, the potential gross income would be approximately:

R189,000 per month

R2,268,000 per annum

This represents a potential increase in gross rental income of approximately R722,520 per annum over the current rental position.

The property's location further strengthens the investment proposition. Glenwood is an established rental node with convenient access to UKZN Howard College, Durban University of Technology, public transport, shopping facilities, restaurants and major healthcare facilities.

For an investor, this creates the opportunity to acquire an income-producing property today while retaining significant upside through rental optimisation and potentially targeting the student accommodation market.

KEY INVESTMENT FEATURES:

• 27 self-contained micro-apartments

• Current rental: R4,770 per unit per month, excluding utilities

• Current gross rental: ±R128,790 per month

• Current annual gross rental: ±R1.545 million

• Potential rental of ±R7,000 per unit, subject to approvals and market conditions

• Potential gross rental: ±R189,000 per month

• Potential annual gross rental: ±R2.268 million

• Potential rental upside of ±R722,520 per annum

• Established multi-tenant income stream

• Strong Glenwood location

• Close to tertiary institutions and public transport

• Excellent value-add potential

• Suitable for investors seeking both immediate income and future rental growth