Property
Description
Property Description
An investment opportunity offering a fully let residential complex comprising 5 townhouse units, each featuring 3 spacious bedrooms and 2 bathrooms. Designed for low-maintenance ownership, the development provides investors with a stable, income-producing asset and excellent future growth potential.
The property currently generates a gross annual rental income of R330,600, with all units occupied, ensuring immediate cash flow.
Each unit is fitted with prepaid Electricity and water meters, allowing for efficient utility management and reducing owner administration and operating costs. The development has been designed with practicality and long-term sustainability in mind, making it an ideal addition to any investment portfolio.
Adding significant value, the property includes approved plans to construct an additional 5 residential units, presenting an outstanding opportunity to increase rental income and substantially enhance the property's overall value.
Features
5 Fully Let Residential Units
Each unit offers 3 bedrooms and 2 bathrooms
Gross annual rental income of R330,600
Low-maintenance construction
Prepaid Electricity And Water Installed
Guard's room providing on-site security infrastructure
Approved plans for a further 5 units
Excellent opportunity for future rental and capital growth
Area Description
Palmiet is an established residential suburb in the western part of Durban, within the eThekwini Metropolitan Municipality in KwaZulu-Natal, bordering Westville and Reservoir Hills. The area is characterised by a mix of freestanding homes and residential complexes on elevated, leafy sites, and is popular with families and investors for its central position and good access to schools, shopping and medical facilities. The suburb offers convenient connectivity to the wider Durban metro via the surrounding arterial and highway network, including the N3 and M19, linking easily to Westville, the Durban CBD and the greater Berea. With sustained rental demand in the western suburbs, the location is well suited to an income-producing residential investment.
Area Amenities
Palmiet Primary School – approximately 0.1 km
Hillview Primary School, Reservoir Hills – approximately 2.0 km
Saxony Westwood Mall, Westville – approximately 2.6 km
The Pavilion Shopping Centre, Westville – approximately 6.0 km
Life Westville Hospital – approximately 6.3 km