Property
Description

Property description
This large apartment block consists of 86 apartments. Each unit contains a kitchenette, full bathroom and spacious bedroom. 13 of the apartments have been converted to Air BnB units and are being rented our at approximately R450 per day. Occupancy for these units are excellent. The building is equipped with 2 lifts that are in excellent working order, secure access control, prepaid water & electricity and offsite parking that is being rented for the city located directly adjacent the property. The property is currently being renovated and there may be potential to increase rentals and occupancy levels through renovating the balance of the units and effective property management. Due to the prime location and fundamentals of the property, the site offers excellent investment potential.

Background:

Prime apartment block situated within walking distance to beach. Property consists of 86 units, 13 of which have been converted to Air BnB units.

Location:
Situated in Durban CBD within walking distance to beach, public transport and key amenities.

Property information:

86 apartments each with lounge kitchenette and full bathroom. 13 units have been converted to Air BnB units.

Potential:

Potential to renovate the apartment block and increase rentals. Current units that have been converted to Air BnB experience high occupancy.

Features
Well let apartment block consisting of 86 units. High occupancy and upside potential.

Area description
Located at the heart of Durban, the Central Business District (CBD) is a bustling urban center renowned for its commercial activity and cultural diversity. This area is characterized by a mix of large apartment blocks and historical landmarks, reflecting the city's rich heritage and rapid development. The property is situated within close walking distance to Durban’s Golden Mile Boulevard. Residents of the Durban CBD benefit from a wide range of amenities within close proximity. From supermarkets and shopping malls to restaurants, cafes, and entertainment venues, everything essential for daily living is readily accessible. Additionally, the CBD boasts excellent transportation infrastructure, including bus routes, taxis, and easy access to major highways, facilitating seamless connectivity throughout the city and beyond. With its strategic location and vibrant atmosphere, the Durban CBD offers both residents and businesses a dynamic environment ripe with opportunities. Whether for residential purposes or investment ventures, this area presents an attractive prospect for those seeking urban convenience and cosmopolitan living in the heart of Durban.

Area Amenities 

Golden Mile Boulevard: 300m
China mall: 250m
Durban Harbour:  650m
Public transport: 300m
Sun Coast Casino & resort: 2.8km
Moses Mabida Stadium: 3,2km